{"id":68529,"date":"2026-01-09T09:46:14","date_gmt":"2026-01-09T09:46:14","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2026\/01\/09\/oil-prices-on-track-for-third-weekly-gain\/"},"modified":"2026-01-09T09:46:14","modified_gmt":"2026-01-09T09:46:14","slug":"oil-prices-on-track-for-third-weekly-gain","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2026\/01\/09\/oil-prices-on-track-for-third-weekly-gain\/","title":{"rendered":"Oil Prices On Track For Third Weekly Gain"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Oil prices extended gains from the previous session on Friday amid fears of supply disruptions, given prospects of Russia-related sanctions, Trump&#8217;s seizure of Russian oil tanker, unrest in Iran, Iraqi nationalization moves, and a drone attack on a Russia-bound oil tanker near Turkey&#8217;s coast in the Black Sea.<\/p>\n<p>Investors also await the outcome of U.S. President Donald Trump&#8217;s meeting with the heads of major U.S. oil companies later today to convince them to support his plans in Venezuela.<\/p>\n<p>Trump said Thursday that the world&#8217;s largest oil companies had pledged to spend $100 billion to fulfil his promise of reviving Venezuela&#8217;s flagging oil sector.<\/p>\n<p>WTI crude futures rose 0.6 percent to $58.10 after climbing more than 3 percent in the New York session overnight. Brent crude futures were up 0.6 percent at $62.34. <br \/>Oil prices remain on track for their third weekly gain, reflecting increased geopolitical tensions and fears of supply disruption. <\/p>\n<p>Recent data from EIA showing a decline in U.S. crude inventories also allayed global oversupply concerns.<\/p>\n<p>U.S. Republican Senator Lindsey Graham has said in a social media post that President Trump has approved a &#8220;Russia sanctions Bill&#8221; that proposes 500 percent tariffs on countries that purchase Russia&#8217;s oil, gas, uranium and other exports. <\/p>\n<p>The U.S. has signaled an intensified crackdown on &#8220;shadow fleet&#8221; tankers and also suggested it could be involved in overseeing Venezuela for years.<\/p>\n<p>Amid ongoing unrest and heightened tensions with Western countries, Iran&#8217;s Supreme Leader, Ayatollah Ali Khamenei, today said the Islamic Republic would not tolerate individuals acting as &#8220;mercenaries&#8221; for foreign powers. <\/p>\n<p>The Iraqi government has approved a plan to nationalize operations at the West Qurna-2 oilfield to ensure uninterrupted oil production amidst U.S. sanctions against Russia&#8217;s Lukoil. <\/p>\n<p>Elsewhere, a Russia-bound oil tanker was attacked by drones in the Black Sea, adding to mounting pressure on Russia&#8217;s shadow fleet. <\/p>\n<p>Russian forces launched 278 missiles and drones at Ukraine overnight, targeting critical infrastructure. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Oil Prices On Track For Third Weekly Gain<\/a><br \/>\n<br \/>2026-01-09 09:46:14<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices extended gains from the previous session on Friday amid fears of supply disruptions, given prospects of Russia-related sanctions, Trump&#8217;s seizure of Russian oil tanker, unrest in Iran, Iraqi&#8230;<\/p>\n","protected":false},"author":2,"featured_media":68530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1585504256855-6718f7a693ae?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=934&q=80","fifu_image_alt":"","footnotes":""},"categories":[28],"tags":[],"class_list":["post-68529","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/68529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=68529"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/68529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/68530"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=68529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=68529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=68529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}