Oil Falls After US Attacks Venezuela

2026-01-04 23:52 By Jam Kaimo Samonte 1 min. read

WTI crude oil futures fell below $57 per barrel on Monday as investors assessed the implications of the US attack on Venezuela and the capture of President Nicolas Maduro.

Markets are weighing the potential impact on regional crude supply, given that Venezuela holds the world’s largest proven oil reserves.

However, some analysts expect limited disruption, noting that Venezuela currently produces less than 1 million barrels of crude per day, accounting for under 1% of global output.

Others warn that oil prices could rise later this year amid concerns that more aggressive US pressure on global adversaries, including Iran, may tighten supply conditions.

The White House is reportedly urging US companies to help revive Venezuela’s oil industry if they seek compensation for assets expropriated by the country roughly two decades ago.

Meanwhile, OPEC+ on Sunday reaffirmed its decision to keep output steady in the first quarter.



News Stream
Crude Falls on Surging Hormuz Shipments
Crude oil fell nearly 4% toward $69 a barrel on Friday, the lowest since February 27, as shipping transits through the Strait of Hormuz accelerated. Volumes surged as vessels openly navigated the waterway following progress toward a US-Iran peace deal, restoring Persian Gulf exports to roughly 75% of prewar levels. Crucially, Saudi Arabia began loading tankers at its Ras Tanura terminal, signaling a major regional output ramp-up. Middle Eastern producers, including the United Arab Emirates, Kuwait, and Qatar, are boosting supply despite difficulties securing enough tankers to transport the additional crude. Iraq is also seeking a higher OPEC production quota to recoup the oil sales it lost during the war. Meanwhile, US President Donald Trump accused Iran of violating a ceasefire by shooting drones at ships in Hormuz. Crude oil recorded an over 10% weekly drop, the largest in a month.
2026-06-26
Crude Oil Hits 17-week Low
Crude Oil decreased to 68.86 USD/Bbl, the lowest since February 2026. Over the past 4 weeks, Crude Oil WTI lost 22.2%, and in the last 12 months, it increased 5.31%.
2026-06-26
Crude Falls on Surging Hormuz Shipments
Crude oil fell nearly 4% toward $69 a barrel on Friday, the lowest since February 27, as shipping transits through the Strait of Hormuz accelerated. Volumes surged as vessels openly navigated the waterway following progress toward a US-Iran peace deal, restoring Persian Gulf exports to roughly 75% of prewar levels. Crucially, Saudi Arabia began loading tankers at its Ras Tanura terminal, signaling a major regional output ramp-up. Despite a temporary 2% price rebound on Thursday after the container ship Ever Lovely was struck by a projectile southeast of Oman, President Donald Trump confirmed the strait remains open and traffic has continued. Middle Eastern producers, including the United Arab Emirates, Kuwait, and Qatar, are boosting supply despite difficulties securing enough tankers to transport the additional crude. Iraq is also seeking a higher OPEC production quota to recoup the oil sales it lost during the war. Crude oil recorded an over 10% weekly drop, the largest in a month.
2026-06-26