Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
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Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
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Oil prices extended their gains during Asian trading on Thursday as geopolitical tensions involving Venezuela and Russia heightened concerns over global crude supply. Market sentiment was boosted after U.S. President Donald Trump ordered a blockade of sanctioned oil tankers entering and leaving Venezuela, a move that escalated pressure on the South American nation and raised fears of further export disruptions.
As of late Asian hours, Brent crude futures for February delivery rose 0.7% to around $60.08 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.8% to approximately $56.39 per barrel. The rise in oil prices reflects growing uncertainty surrounding supply from key oil-producing nations amid tightening sanctions and potential enforcement actions.
The U.S. blockade targets tankers carrying Venezuelan oil that are already under American sanctions, signaling a tougher stance against President Nicolas Maduro’s government. Venezuela, a member of OPEC, has seen its crude exports sharply constrained over the years due to longstanding U.S. sanctions. Analysts warn that stricter enforcement of the blockade could further limit Venezuelan oil shipments, tightening global supply conditions.
Market optimism was further supported by reports that Washington is considering harsher measures against Russia’s energy sector if diplomatic efforts to end the Ukraine conflict fail. Proposed actions could affect Russia’s oil production, shipping routes, and export infrastructure, potentially disrupting flows from one of the world’s largest crude exporters. Analysts at ING noted that with Brent crude trading near $60 per barrel and a surplus outlook, the U.S. may have room to pursue more aggressive sanctions without immediate economic fallout.
On the data front, oil price gains were partially tempered by U.S. inventory figures. According to the Energy Information Administration, U.S. crude oil stocks fell by 1.27 million barrels for the week ended December 12, smaller than the expected 2.4 million barrel draw. Meanwhile, gasoline and distillate inventories rose sharply, signaling softer demand for refined fuel products.
Overall, oil markets remain sensitive to geopolitical developments, sanctions policy, and supply-demand dynamics, all of which continue to shape crude oil price movements.
