US Lockdown of Venezuela Causes Oil Prices to Fluctuate
Oil traded in a tight range on Thursday after two straight sessions of losses, as markets digested a sharper US push to shape Venezuela’s crude flows—alongside fresh tanker seizures tied to sanctions.
Brent hovered near $60.20 a barrel, while WTI held around $56.21.
The US plan is expected to start with offering stored crude before moving into broader Venezuelan supply sales, with officials indicating the oil is already being marketed.
Investors are also watching how the policy shift could reroute Venezuelan barrels, potentially diverting flows away from Asia and reshaping trade patterns in the months ahead.
Still, gains remain capped by persistent concerns about ample global supply, as the prospect of more Venezuelan exports comes at a time when broader output remains elevated.
With geopolitics supporting prices on one side and oversupply fears weighing on the other, oil is likely to stay volatile as traders reassess the next moves around Venezuela and global balances.
Source: Newsmaker.id
