Oil prices saw an increase due to heightened U.S. economic pressure on Venezuelan oil shipments and airstrikes in Nigeria. Brent crude futures rose 0.4% to $62.48, and WTI crude climbed 0.4% to $58.58. Both Venezuela and Nigeria are significant oil producers. Despite these supply risks, oil is on track for its steepest annual decline since 2020, with supply expected to exceed demand next year. Additionally, Ukrainian drone attacks impacted oil shipments from Kazakhstan.