Singapore | November 11, 2025 — Oil prices slipped on Tuesday, with Brent crude falling 0.5% to $72.50 per barrel, as renewed fears of global oversupply outweighed concerns about potential US sanctions on Venezuelan oil exports.
Traders said that rising inventories in major consuming nations, coupled with sustained output from the US, Saudi Arabia, and non-OPEC producers, has stoked market caution, putting downward pressure on prices despite geopolitical risks.
“The market is struggling to balance geopolitical uncertainty with hard supply data. Oversupply remains the bigger story right now,” said an energy strategist at Nomura Holdings.
Oversupply vs. Sanctions Sentiment
While Washington’s potential tightening of sanctions on Venezuela’s state-owned PDVSA could reduce some export flows, analysts believe any impact will be short-term, given alternative supply sources and weak demand recovery in China and Europe.
OPEC+ members, who meet later this month, are expected to maintain current output levels amid mixed signals from global demand data.
“Unless we see a decisive OPEC cut, crude prices are likely to hover near the $70–75 range,” said a trader at a Singapore-based brokerage.
Asian Market Reaction
Asian equities and energy-linked currencies traded cautiously, reflecting broader risk aversion. The Indian rupee and Japanese yen held steady, while energy sector shares in Tokyo and Seoul saw mild declines.
Current Prices (11 AM IST):
Brent Crude: $72.50 (−0.5%)
WTI Crude: $68.40 (−0.6%)
OPEC Basket: $71.90
🌏 Market Summary:
Despite ongoing geopolitical flashpoints — including US sanctions speculation and Middle East supply adjustments — oil markets remain dominated by oversupply signals, reinforcing expectations of subdued prices in the near term.
