Oil prices rise after Trump says he won't rule out war with Venezuela
Trump declined to say whether overthrowing Venezuelan President Nicolas Maduro is his ultimate goal.
TL;DR
- U.S. crude oil prices rose after President Trump suggested he would not rule out war with Venezuela.
- Trump declined to specify if overthrowing President Nicolas Maduro was his objective.
- The oil market is not currently showing signs of major supply disruption risk.
- U.S. benchmark crude oil rose 0.78% to $56.59 per barrel.
- Global benchmark Brent crude oil increased 0.95% to $60.39.
- U.S. benchmark crude oil had previously fallen to four-year lows amid expectations of a peace agreement in Ukraine.
- The U.S. has imposed sanctions on Venezuela and conducted military actions off its coast.
- Venezuela holds the world's largest proven oil reserves and exports significant amounts, with half going to China.
- Venezuela exports about 132,000 barrels per day to the U.S.