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Brent Crude Drifts Lower as Venezuelan Exports Hit the Market

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Published: January 26, 2026

Refining Margins

With cheaper heavy crude now available, refining margins in the Atlantic Basin have improved. However, this has not translated to higher crude prices, as the sheer volume of available supply is dampening sentiment.

Technical Resistance

Brent failed to break the $66 resistance level last week, triggering algorithmic selling. Support is seen at $62.00, a level that OPEC+ will likely defend with verbal intervention.