HOUSTON: Oil prices settled lower on Friday on the first trading day of 2026 after registering their biggest annual loss since 2020, as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports. Brent crude futures closed down 10 cents to US$60.75 a barrel, ‌while US West Texas Intermediate crude eased 10 cents to US$57.32.

Source: The Star January 03, 2026 01:34 UTC