The Times of India News

Oil price edges up in 2026! Debut after worst annual loss since 2020; here's all you need to know

Global oil prices saw a slight increase on the first trading day of 2026, recovering from a significant annual decline. This uptick was driven by renewed geopolitical tensions, including Ukrainian drone strikes on Russian oil facilities and fresh US sanctions impacting Venezuelan exports. Despite these immediate concerns, the market remains cautious due to persistent oversupply worries.