eNCA Market Update | 12 January 2026

JOHANNESBURG - The momentum from the late-2025 bull run has carried into 2026.

Both global and local markets have shown renewed appetite amid significant geopolitical developments.

This taking into consideration the upheaval in Venezuela and its potential impact on energy markets and investor sentiment.

Brian Thomas from Laurium Capital joined us to unpack the key market movements so far this year.

Thomas predicts that over time, oil production in Venezuela.

READ | Trump pitches Venezuela oil to US majors - and hits skepticism

With more oil flowing proces could ease. 

This, he says, will be good for South Africa and motorists, because it would bring down fuel prices

Meanwhile, the first few weeks of 2026 saw the rand rally to a near three-year high. 

With more oil flowing, the oil price should come down, which would be good for South Africa and motorists, because this would bring down fuel price, Thomas explains.

Meanwhile, the first few weeks of 2026 saw the rand rally to a near three-year high.

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