Crude oil has rocketed above $90 per barrel, with Brent at $90.45 and WTI at $86.20 on December 8, 2025—up 1.2% daily—as Ukrainian strikes on Russian facilities and Venezuelan sanctions stoke risk premiums, offsetting OPEC+ quota hikes and U.S. inventory builds of 574,000 barrels. This 5.3% monthly surge reverses November’s 0.71% dip, with Brent’s 2025 average at $78.50 eyeing $95 if stalled peace talks and Iranian proxy escalations persist.
Supply dynamics dominate: Russian seaborne flows up 20% evade sanctions, yet refinery attacks slash 500,000 bpd output, while EIA’s surplus view—1.2 million bpd global glut—clashes with IEA’s tighter 800,000 bpd deficit forecast. Demand glimmers from China’s stimulus and U.S. holiday travel, with gasoline stocks rising yet jet fuel tight at 2.8 million barrels below norms. Technically, Brent’s golden cross above the 50-day SMA at $82 signals bullish continuation, with RSI at 68 and $88 support firm.
OPEC+’s December 5 output boost of 300,000 bpd tempers euphoria, but Saudi’s Asian price cuts to five-year lows hint oversupply cracks. For portfolios, energy ETFs like XLE gain 4% weekly; inflation hawks eye pass-through to CPI, potentially delaying Fed cuts and pressuring equities. As EIA/OPEC reports loom, $92-95 beckons if disruptions mount, reshaping global energy economics.
