Oil was down in early Asian trading following a choppy session, as geopolitical tensions roiled the market, ANZ research analysts said.
Oil prices fell for a second day on Wednesday as investors waited to see if peace talks in the Russia-Ukraine war could open up more supply amid wider concerns about a surplus, highlighted by rising inventories.
Geopolitical tensions lift natural gas and oil as rising channels, EMA support and strong RSI readings point to further upside across energy markets.
Oil prices climbed in early trade on Tuesday for a second consecutive session as market participants assessed risks stemming from Ukrainian drone strikes on Russian energy sites and mounting U.S.-Venezuela tensions.
Oil edged higher in early Asian trading amid supply chain disruption.
Torbjörn Törnqvist is selling his stake in Gunvor after renewed scrutiny of the firm's Russia ties.
Crude oil futures rally 2% as drone strikes on Russian infrastructure and OPEC+ holding production steady reignite supply fears after a four-month losing streak.
Natural gas and oil rebound as OPEC+ holds supply steady and energy markets react to shifting geopolitical signals and improving technical momentum.
Oil rose in early Asian trade. Markets continue to focus on the progress of Russia-Ukraine peace talks, Nanhua Futures said.
Oil prices rose more than 1.5% on Monday after the OPEC+ meeting on Sunday decided against earlier planned production rises in the first quarter of next year.
WTI edges higher as traders assess peace talks, rising supply, weak oil demand, and OPEC policy, with analysis pointing to a bearish weekly oil outlook.
OPEC+ is likely to leave oil output levels for the first quarter of 2026 unchanged at its meetings on Sunday, three delegates from the group said on Saturday, moderating a push to regain market share amid fears of a looming supply glut.