Brent Crude Holds Sixty Dollars Amid Naval Blockades and Geopolitical Friction

Logistical Squeeze in the Caribbean

The U.S. operation in Venezuela has effectively stalled heavy crude exports from the region. While the global market is well-supplied with light sweet crude, the shortage of heavy sour grades is forcing refiners in Asia to seek more expensive alternatives, supporting Brent's prompt month pricing.

The Ukraine Peace Dividend Uncertainty

While talks overseen by President Trump are aimed at ending the Russia-Ukraine war, active drone strikes on Russian refineries continue. This friction in Eastern European logistics is preventing the 'peace dividend' from fully depressing prices, as the market remains wary of sudden supply outages.