London, Dec. 18, 2025 – Oil prices steadied on Thursday as investors assessed the likelihood of further U.S. sanctions against Russia and the supply risks posed by a blockade of Venezuelan oil tankers. Brent crude dropped 1 cent to $59.67 per barrel at 1133 GMT. U.S. West Texas Intermediate crude was up 5 cents at $55.99 per barrel. U.S. intentions to impose more sanctions against Russia and its threatened blockade of tankers under sanctions and carrying Venezuelan oil pushed prices higher, PVM analyst John Evans said. On Wednesday, Bloomberg …
Oil rises over 1% as Trump’s Venezuela blockade stokes uncertainty
Singapore, Dec 17, 2025 – Oil prices rose more than 1% on Wednesday after U.S. President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela, raising fresh geopolitical tensions at a time of concerns over demand. Brent crude futures were up 79 cents, or 1.3%, at $59.71 a barrel at 0500 GMT, while U.S. West Texas Intermediate crude rose 77 cents, or 1.4%, to $56.04 a barrel. Oil prices settled near five-year lows in the previous session on progress in Russia-Ukraine peace …
Trump orders ‘blockade’ of sanctioned oil tankers leaving, entering Venezuela
Washington, Dec 16, 2025 – U.S. President Donald Trum ordered on Tuesday a “blockade” of all sanctioned oil tankers entering and leaving Venezuela, in Washington’s latest move to increase pressure on Nicolas Maduro’s government, targeting its main source of income. It is unclear how Trump will impose the move against the sanctioned vessels, and whether he will turn to the Coast Guard to interdict vessels like he did last week. The administration has moved thousands of troops and nearly a dozen warships – including an aircraft carrier – to the region. …
Oil slips on Russia-Ukraine peace deal talks, weak China data
Singapore, Dec 16, 2025 – Oil prices fell on Tuesday, adding to the previous session’s losses, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations of a potential easing of sanctions. Brent crude futures fell 35 cents, or 0.6%, to $60.21 a barrel at 0720 GMT, while U.S. West Texas Intermediate crude was trading at $56.47 a barrel, down 35 cents, or 0.6%. “Crude oil fell as the market weighed up signs of optimism on a peace deal being reached between Russia and Ukraine,” ANZ analysts …
NNPC contains damaged Escravos–Lagos Pipeline – official
Abuja, Dec. 15, 2025 – The NNPC Limited says it has successfully contained the damaged Escravos-Lagos pipeline. The pipeline was destroyed by an explosion which hit a section of the pipeline in South-West Warri, Delta State on Thursday, Dec.11, 2025. The NNPCL gave an update on the damaged pipeline on Monday in a statement signed by Andy Odeh, its Chief Corporate Communications Officer. It said the containment measures deployed in managing the damaged pipeline were successfully executed. “All relevant pipeline sections have been safely and securely isolated. “A joint …
Dangote Refinery to sell petrol at N739 per litre from Tuesday
Lagos, Dec. 15, 2025 – Aliko Dangote, the Chairman of Dangote Refinery, says petrol from the company will be sold at N739 per litre by filling stations from Tuesday. Dangote disclosed this in Lagos on Sunday while speaking on new developments in the refinery. He said that the new price would be a remarkable drop from the old and reflect the new pricing regime which fixed the new ex-depot price of N699 price litre. Dangote gave assurance that the new price would be reflected by MRS and other retail …
Oil rises as Venezuelan supply disruptions outweigh surplus concerns
Tokyo, Dec. 15, 2025 – Oil prices climbed on Monday as supply disruptions linked to escalating U.S.-Venezuela tensions outweighed oversupply worries and the impact of a potential Russia-Ukraine peace deal. Brent crude futures were up 30 cents, or 0.49%, at $61.42 a barrel, as of 0725 GMT, and U.S. West Texas Intermediate crude was at $57.72 a barrel, up 28 cents, or 0.49%. Both contracts slid more than 4% in the prior week, weighed down by expectations of a surplus in 2026. “Peace talks between Russia and Ukraine have …
Dangote escalates oil fight with regulator, seeks corruption probe
Lagos, Dec 15, 2025 – Nigeria’s richest man Aliko Dangote escalated his fight with regulators on Sunday, accusing them of enabling cheap fuel imports that threaten local refineries. Nigeria is Africa’s biggest oil producer but relies heavily on imports and Dangote’s refinery was meant to change that. Dangote said if imports continue unchecked, they will threaten jobs, investment and energy security. Speaking at his 650,000-barrel-per-day oil refinery in Lagos, Dangote said imports were being used “to checkmate domestic potential”, creating jobs abroad while Nigeria struggles to industrialise. “You don’t …
Explosion rocks NNPC Escravos-Lagos pipeline
Abuja, Dec. 12, 2025 – The NNPC Escravos–Lagos Pipeline has been damaged by an explosion which occurred near Tebijor, Okpele, and Ikpopo communities in Gbaramatu Kingdom, Delta State on Wednesday evening. The Nigerian National Petroleum Company (NNPC) Limited confirmed the incidence in a statement signed by Andy Odeh, its Chief Corporate Communications Officer. It said the explosion was reported at about 17:50 hours on Dec. 10, 2025. According to the statement, initial observations indicated a pressure drop consistent with a loss of containment on an NNPC Gas Infrastructure Company …
OPEC data indicate close oil supply-demand balance in 2026, no glut
London, Dec 12, 2025 – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the first quarter of 2026, amid widespread predictions of oversupply. In a monthly report on Thursday, OPEC said that OPEC+ pumped 43.06 million barrels per day of crude in November, up 43,000 …