🛢️ Oil Market Update — Prices Steady Amid Venezuela Uncertainty
Crude oil prices are holding near current levels as markets closely monitor developments around Venezuela and potential U.S. policy responses. Brent crude is trading around $60–61/bbl, while WTI remains near $57–58/bbl.
The recent capture of Nicolás Maduro and the resulting shift in control over Venezuela’s oil exports have introduced fresh geopolitical uncertainty. While global oil supply conditions remain relatively comfortable, a modest geopolitical risk premium continues to support prices as traders assess possible disruptions.
Key factors influencing the market:
Venezuela-related geopolitical risk adding uncertainty to supply outlooks
Ample global supply limiting significant upside in prices
Headline-driven trading, with markets balancing political developments against actual physical supply flows$XAU
