Oil prices extended their gains in early Asian trading on Friday as markets reassessed geopolitical risks affecting key producing countries and shipping lanes. U.S. benchmark Oil – US Crude (WTI) traded near $58.27 per barrel, up roughly 0.85% after both WTI and global benchmark Oil – Brent Crude surged more than 3% on Thursday, with Brent approaching the $62 level. Heightened enforcement of U.S. sanctions on Venezuelan crude exports has contributed to the emerging risk premium, underscoring investor sensitivity to potential disruptions in supply and transportation routes. Natural gas, represented by Natural Gas, was less directly supported by these oil-focused geopolitical developments but remains part of the broader energy-risk narrative.
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Despite the short-term rebound in crude benchmarks, the past month’s performance remains negative: WTI is down about 3.49% and Brent has declined roughly 2.86%, reflecting recent concerns over demand resilience and ample inventories before the latest risk-driven bounce. Natural gas has underperformed more sharply, falling about 16.03% over the same period, signaling ongoing pressure from robust supply and softer seasonal demand. From a technical perspective, 1-day indicators currently point to a cautious stance across the complex, with WTI showing a Sell signal, Brent registering a Sell signal, and Natural Gas also flashing a Sell signal, suggesting that, despite the latest price uptick, short-term momentum remains fragile. Investors can explore more updates, prices, and analysis across global markets at Commodities.