Washington, Jan. 9, 2026 – Oil extended a gain as the market weighed US President Donald Trump’s threat against Iran, while also focusing on his administration’s moves to exert control over Venezuela’s exports and energy sector. West Texas Intermediate was around $58 a barrel after rising 3.2% on Thursday, while Brent was near $62. Trump threatened to hit Iran “hard” if the country’s government killed protesters during a period of unrest. An annual period of commodity index rebalancing is also expected to see cash flow back into oil, according …
Trump says Venezuela to send oil worth up to $2.8bn to US
Washington, Jan. 7, 2026 – President Donald Trump said Venezuela would relinquish as much as 50 million barrels of oil to the US, worth roughly $2.8 billion at the current market price, announcing the cargoes would be sold with proceeds benefiting both countries. The announcement late on Tuesday, which came with few details, marked a significant step up for the US government as it seeks to extend its economic influence in Venezuela and beyond after the capture of leader Nicolas Maduro over the weekend. It’s also a blow to China, …
Dangote Refinery not shutting down, still producing at full capacity – official
Lagos, Jan. 6, 2026 – Dangote Petroleum Refinery has dismissed reports that it was shutting down for maintenance. The company denied the reports in a statement issued late Monday. It said it was still supplying over 50 million litres of petrol daily to the Nigerian market while operating at full capacity while. The company described the reports as false, misleading, and deliberately promoted to create panic in the market. It said production at its 650,000-barrels-per-day facility had remained stable and uninterrupted and had consistently maintained petrol production levels of …
Trump sets meetings with oil companies on Venezuela
Washington, Jan. 6, 2026 – The administration of United States President Donald Trump is planning to meet with executives from US oil companies later this week to discuss boosting Venezuelan oil production after US forces abducted its leader, Nicolas Maduro, the Reuters news agency has reported, citing unnamed sources. The meetings are crucial to the administration’s hopes of getting top US oil companies back into the South American nation after its government, nearly two decades ago, took control of US-led energy operations there, the Reuters news agency report said on Monday. …
US oil companies shares advance as Trump signals potential access to Venezuela’s reserves
Washington, Jan 5, 2026 (Reuters) – U.S. oil companies’ shares closed higher on Monday, on investor optimism about potential access to Venezuela’s vast oil reserves after President Donald Trump said the United States would take control of the South American nation following the arrest of its president Nicolas Maduro. Venezuela holds the world’s largest oil reserves, but production plummeted in recent decades due to mismanagement, limited foreign investment following the nationalization of its oil industry and sanctions. The Trump administration plans to meet with executives from U.S. oil companies later …
Oil falls on ample supply outlook, Venezuelan output prospects
Singapore, Jan 6, 2026 – Oil prices fell on Tuesday on expectations of ample global supply amid weak demand, and as the market weighed the prospect of higher Venezuelan crude output following the U.S. capture of President Nicolas Maduro. Brent crude futures fell 0.5%, or 28 cents, to $61.48 a barrel by 0735 GMT while U.S. West Texas Intermediate crude was at $58.00 a barrel, down 0.6% or 32 cents. Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova, noted the oil price response to major geopolitical events, such as …
Trump’s Venezuela gambit tests investor appetite for geopolitical risk
By Ankur Banerjee and Rae Wee Singapore, Jan. 5, 2025 – Markets may have shrugged off the audacious U.S. capture of Venezuelan President Nicolas Maduro, but some investors warn that geopolitical risks are perhaps being underestimated after Donald Trump threatened further action in the Americas. Investors held their nerve on Monday, with stocks in Asia surging and oil prices down modestly although safe-haven flows lifted gold prices, after President Trump said the U.S. would take control of the oil-producing nation. While Washington has not made such a direct intervention …
Stocks climb, oil slips as investors assess Venezuela upheaval
Singapore, Jan. 5, 2025 – Asian stocks climbed on Monday with AI-linked themes in focus at the start of the first full trading week of the year, while oil prices dipped on the view U.S. military action in Venezuela would be unlikely to disrupt a well-supplied energy market. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.4% to hit a record high, while S&P 500 e-mini futures were 0.2% higher as investors looked through the geopolitical developments ahead of a packed week of economic releases. Investors are assessing the repercussions of …
Trump’s plan to seize revitalize Venezuela’s oil industry faces major hurdles
Washington, Jan 5, 2026 – President Donald Trump’s plan to take control of Venezuela’s oil industry and ask American companies to revitalize it after capturing President Nicolas Maduro in a raid isn’t likely to have a significant immediate impact on oil prices. Venezuela’s oil industry is in disrepair after years of neglect and international sanctions, so it could take years and major investments before production can increase dramatically. But some analysts are optimistic that Venezuela could double or triple its current output of about 1.1 million barrels of oil …
US oil refiners win, Chinese rivals lose in Trump’s Venezuela strike
London, Jan 4, 2026 – The U.S. military’s ouster of Venezuelan President Nicholas Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. That will give U.S. refiners an immediate boost, but President Donald Trump’s plans to revive production in the Latin American country may be slower to materialize. Speaking on Saturday after announcing Maduro’s arrest on Truth Social, Trump said he would maintain the U.S. embargo on cargo exports of sanctioned Venezuelan crude oil for now, but also …