Oil prices tick up amid supply‑risk jitters

Oil prices rose for a second straight day on Tuesday as fresh geopolitical tensions spurred concerns over global supply. By early trade, Brent crude futures edged 14 cents higher to $63.31 a barrel, while West Texas Intermediate (WTI) rose 18 cents to $59.50 — building on Monday’s more than 1% gains. The rally was triggered by a string of developments that threaten key supply routes. On November 29, Ukrainian drone strikes hit Russian energy infrastructure, damaging a mooring point at the Caspian Pipeline Consortium (CPC) Black Sea terminal. Though shipments resumed at one mooring (SPM‑1), another was damaged, raising concerns about potential further disruption. In addition, rising tensions between the U.S. and Venezuela added to uncertainty. According to a senior U.S. official, Donald Trump recently ordered Venezuelan airspace to be considered “closed in its entirety,” escalating concerns over possible impacts to Venezuelan oil exports. Meanwhile, OPEC+ said it would modestly raise output in December — but flagged that further increases would pause in early 2026 due to fears of oversupply. Still, some analysts caution that these price bumps may be temporary. With global supply‑demand balances still weakening, there is a realistic chance WTI and Brent could drift back toward the $55–$59 per barrel range over the longer term. #OilPrices #Geopolitics #EnergyMarkets #CrudeOil #SlimScan #GrowthStocks #CANSLIM