🛢️ Oil rebounds after sharp losses… tensions with Venezuela support prices

Oil prices rebounded in early trading on Monday, after the strong losses incurred last Friday, recovering a limited portion of their decline.

📈 Support came from escalating tensions between the United States and Venezuela, which heightened concerns about a potential disruption of production in the OPEC member country.

⚖️ Although prices recovered a portion of their decline by about 4% during the past week, gains remained limited due to:

• Ongoing concerns about a global supply surplus

• Potential effects of any peace agreement between Russia and Ukraine