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Crude oil futures settle higher on Thursday

19 Dec 2025 Evaluate

Crude oil futures ended higher on Thursday amid lingering geopolitical tensions between US and Venezuela. After US President Donald Trump ordered a total and complete blockade against oil tankers travelling to or from Venezuela, the South American country has ordered its Navy to escort ships carrying petroleum products from port, escalating the risk of a confrontation with the United States. Meanwhile, in Europe, Russian President Vladimir Putin said in a speech at the annual meeting of the Russian Defense Ministry that he would not compromise on his demands for Ukraine to cede territory.

Benchmark crude oil futures for January increased $0.21 or 0.38% at $56.15 a barrel on the New York Mercantile Exchange. Brent crude for February delivery gained $0.14 or 0.23% to settle at $59.82 a barrel on London's Intercontinental Exchange.

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