Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday.
Oil rose in the early Asian session amid Middle East tensions that could lead to supply disruptions.
The seizures of sanctioned vessels have created a new flashpoint between the U.S. and Russia at sea.
U.S. President Donald Trump signed an executive order declaring a national emergency to block the seizure of Venezuelan oil revenue held in U.S. Treasury accounts. The order said the funds are the sovereign property of Venezuela held in U.S. custody, and are not assets subject to private claims.
Major U.S. oil companies to invest $100 billion rebuilding Venezuela's energy sector following Maduro's capture, Trump announces at White House meeting.
US Energy Secretary Chris Wright joins Bloomberg's "Balance of Power: Late Edition" on the Trump Administration's outline to work with top oil companies in Venezuela.
Louisiana's trial bar and politicians try to loot Chevron in state court.
Citizens of Venezuela and Iran face an opportunity thanks to the impulsive and unpredictable Trump.
As U.S. President Donald Trump moves quickly to put together a $100 billion effort to revive Venezuela's oil industry, the administration has yet to finalize the fate of the crown jewel of the country's foreign assets, U.S. refining company Citgo Petroleum, sources close to the matter said.
Exxon's CEO says the South American country is currently ‘uninvestable' and plans to send a technical team to assess the situation.
Control over Venezuela's oil has been in the spotlight all week, but developments in Iran are key to crude's latest rise.
The US military says its forces have seized a third oil tanker in the space of a week.