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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery lost 16 cents to $57.44 on the New York Merc, while Brent for February lost 16 cents to $61.12 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.40 to WTI, down from a discount of $13.10. Natural gas for January lost 11 cents to $4.21. The TSX energy index lost a fraction of a point to close at 303.36.

Oil prices notched a weekly loss. They have had more of those losses than not in 2025 (which is shaping up to be their worst year since the pandemic), and Wall Street sees even more room to fall in 2026. Brent will slip to between $59 (U.S.) and $60 (U.S.) next year, according to the average of the forecasts of Bank of America, Barclays, Citigroup, Goldman Sachs, JPMorgan and Morgan Stanley. Interestingly, while Goldman Sachs used to roar the loudest of the oil bulls, it is now the most bearish, with a mere $56 (U.S.) Brent forecast for 2026. The new undisputed leader of the bulls is Barclays, which reiterated today that the market is underestimating the risk of supply disruptions. It sees Brent averaging $65 (U.S.) in 2026 (and previously said in October that Brent could spike as high as $85 (U.S.) if supply shocks -- such as Russian sanctions -- rock the market).

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