Oil prices continue to decline following events in Venezuela

Oil prices fell on Monday as investors assessed the impact of last weekend's events in Venezuela, Report informs referring to trading data.

The price of March Brent crude oil futures on London's ICE Futures exchange was $60.50 per barrel, down $0.25 (0.41%) from the previous close. February WTI crude oil futures on the New York Mercantile Exchange (NYMEX) electronic trading fell $0.30 (0.52%) to $57.02 per barrel.

In 2025, Brent and WTI crude oil prices fell by almost 20%, the most since 2020, in part due to forecasts for increased production by OPEC+ countries. In the case of Brent, this decline marked the third consecutive year.