(Photo: Reuters)SHANGHAI — The US assault on Venezuela jolted the global commodity markets, sending gold higher and reinforcing the long-term bearish view on crude oil as investors navigate rising geopolitical tensions to start 2026. The Bloomberg Commodity Index rose 11% last year, its best annual gain since 2022, while crude oil defied the uptrend with a 20% decline on oversupply jitters. Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, the United States, on Nov 22, 2019. (Photo: Reuters)In stark contrast, pessimism about crude oil is building after the attack. Oil prices would be in the high US$50 range per barrel for much of 2026, he added.

Source: Bangkok Post January 05, 2026 13:37 UTC