Global oil prices edged lower early Tuesday, pulling back after a strong rally in the previous session as markets grapple with geopolitical uncertainty, particularly tensions between Russia and Ukraine, while broader commodity markets also softened.
Brent crude futures for February delivery were down about 0.3 % at roughly $61.73 a barrel, with the more active March contract near $61.30. U.S. West Texas Intermediate (WTI) crude also eased around 0.3 %, trading near $57.88 per barrel. The price retreat came after both benchmarks climbed more than 2 % in the prior session amid fears of potential supply disruptions linked to escalating conflict developments.
The recent volatility reflects heightened caution among investors. Russia’s accusation that Ukraine targeted President Vladimir Putin’s residence has intensified supply disruption concerns, even as market participants also booked profits following rallies in precious metals, which helped trigger broader commodity selling. Analysts suggest that weakness in metals like silver and gold has spilled over to oil and other commodities.
Despite the slight pullback, geopolitical risks remain in focus, and tensions in Eastern Europe continue to influence sentiment alongside worries about global oil supply and demand dynamics heading into early 2026.
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