Oil Extends Historic Slide, Set for Third Straight Annual
Loss Amid Global Glut

Singapore, 31 Dec 2025 (ONA) — Oil prices fell today,
poised to close 2025 with a decline exceeding 15 percent after a year in which
persistent oversupply overshadowed geopolitical turmoil, tariff increases,
rising OPEC+ production, and sanctions on major producers.

Brent crude futures are down roughly 18 percent for the
year—their steepest annual drop since 2020—and are on track to log their third
consecutive yearly loss. This would mark the longest losing streak in the
benchmark’s history. The front-month March Brent contract, expiring today,
edged down five cents to $61.28 per barrel.

U.S. West Texas Intermediate (WTI) crude dipped three cents
to $57.92 per barrel and is set to post an annual decline of approximately 19
percent.

Data from the London Stock Exchange Group indicates the 2025
average price for both major crude benchmarks is the lowest since 2020,
underscoring a sustained period of weakness in the global oil market.

— Ends/Khalid