Simultaneous geopolitical flare‑ups in Venezuela, Iran and the Black Sea have pushed oil prices to a three‑month high, creating a treacherous environment for investors even as a large supply glut still looms over the market.

The European Union adopted fresh sanctions against Russian oil interests on Monday, targeting traders Murtaza Lakhani and

Shell warned that a weak oil-trading performance would weigh on its earnings, compounding what is shaping up to be a challenging period as prices continue to slide.

LONDON, Jan 12 (Reuters) - Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit and legal risks and securing a potentially lucrative business opportunity in the country with the world's largest crude reserves.

Major international oil trading houses, including Trafigura, are discussing a return to oil trade with Venezuela following the capture of Nicolas Maduro, with US support and projections for massive future investment.

WTI Crude Oil, currently trading near $59.15 as of January 15, 2026, is under pressure following a sharp reversal and failure to hold the $61.00 level.

Global oil trading houses have reportedly taken the lead in securing deals for Venezuelan crude, outpacing U.S. energy majors. Vitol, Trafigura Eye Venezuelan crude Despite President Donald Trump‘s announcement that U.

Russia’s oil trade survives through legal loopholes, shell companies, and intermediaries, not tankers alone— making courtrooms a more effective battlefield than risky escalation at sea. The arrest of a senior executive, Adnan Ahmadszada, at Azerbaijan ...

Predictions of an oil glut have dominated oil market reporting for months. Some analysts disagree that there is a danger of a glut. Vandana Hari: The market is not “seeing the glut and it’s not evident yet in the physical market. Predictions of an oil ...

Oil prices rose slightly Friday but ended the week lower as traders balanced Russian sanctions against signs of global oversupply. Image by Golden House Studio via iStock Oil rose on Friday but still notched a second weekly loss as the market continued to ...