(Dec 23): Oil steadied after a four-day run of gains as the US continued its blockade of shipments of crude from Venezuela. Brent was near US$62 (RM252.40) a barrel after rising about 5% over the previous four sessions while West Texas Intermediate was close to US$58. Still, more than a dozen vessels have loaded oil off the coast of the South American nation since efforts to curb Caracas’ crude revenue were ramped up. Venezuelan exports represent less than 1% of global supply but the revenue provides a financial lifeline for Maduro’s government. Prices:Brent for February settlement was steady at US$62.05 a barrel as of 10.32am in Singapore (same time as Malaysia).

Source: The Edge Markets December 23, 2025 03:11 UTC