“The US seizing a sanctioned vessel off Venezuela, and Ukraine attacking another Russian shadow-fleet vessel in the Black Sea should be adding more to the near-term sanction and war-risk premium,” said Robert Rennie, head of commodity and carbon research at Westpac Banking Corp. “The developing super-glut will weigh on prices in 2026” and Brent should hold in the current range of $60 to $65 a barrel for now, he said.