Singapore – Oil prices recorded a sharp decline of more than 10% in 2025. Brent crude is nearing its longest annual losing streak ever. This is due to an oversupply compared to demand. Wars also had an impact. Rising tariffs contributed. Increased OPEC+ production was a factor. Economic sanctions played a role.
Brent crude futures fell by nearly 18%. This marks the largest annual decline since 2020. The crude is close to recording losses for the third consecutive year.
US West Texas Intermediate (WTI) crude dropped five cents. It reached $57.90 per barrel. This represents an annual decline of nearly 15%.