WTI Oil Rallies for Fourth Session on US Venezuela Tensions

Geopolitical Risk Returns

The market focus has shifted back to supply security. The US administration's aggressive stance on seizing Venezuelan assets has raised fears of broader disruptions. While Venezuela accounts for less than 1% of global supply, the move signals a potential crackdown on 'dark fleet' movements that could impact other sanctioned producers like Iran or Russia.

Ukraine Conflict Updates

Simultaneously, tensions in Europe remain high. Ukraine has continued strikes on Russian energy infrastructure, damaging vessels and piers along the Black Sea coast. These dual geopolitical hotspots are providing a floor for oil prices, counteracting the bearish narrative of a 2026 supply surplus.