Oil prices stable after Trump says he won't rule out war with Venezuela

Core Viewpoint - U.S. crude oil prices remain stable despite geopolitical tensions involving Venezuela, with President Trump not ruling out military action against the country, which is a significant OPEC member [1][2]. Oil Market Dynamics - U.S. crude oil prices increased by 29 cents (0.5%) to $56.44 per barrel, while Brent crude rose by 31 cents (0.5%) to $60.31 per barrel [1]. - Earlier in the week, U.S. benchmark prices fell to four-year lows due to speculation about a potential peace agreement in Ukraine, which could lead to increased Russian crude supply in a well-supplied market [2]. Venezuela's Oil Exports - Venezuela, a founding OPEC member, has the largest proven oil reserves globally and is currently exporting approximately 749,000 barrels per day, with at least half of that oil going to China [4]. - The U.S. imports about 132,000 barrels per day from Venezuela [4]. U.S. Military Actions - The U.S. has increased its military presence in the Caribbean and conducted strikes on vessels allegedly involved in drug trafficking, raising legal and congressional scrutiny regarding these actions [3].