olimarkets

Oil prices are trading steadily to slightly softer as markets digest the news around Venezuelan crude flows and broader supply/demand fundamentals. Brent and WTI have eased this week after the U.S. announced a deal to bring 30–50 million barrels of Venezuelan oil into the U.S. market, which traders are interpreting as additional future supply rather than a disruptive shock, keeping prices grounded around the low-$60s for Brent and high-$50s for WTI. (Business Recorder)

Geopolitical headlines from Venezuela still provide a short-term risk premium, but the muted market reaction underscores that ample global supply and weak demand expectations remain the dominant price drivers. Analysts note Venezuela’s limited share of global output and expect near-term impacts to be minor unless export flows or inventories change materially. (en.aletihad.ae)

In summary: oil is steady but cautious — geopolitical tension supports modest gains, yet oversupply and subdued demand are keeping prices contained rather than triggering a breakout. Traders are focused more on actual barrels and inventory data than headline noise.

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