Oil Futures Settle Higher on Geopolitical Tensions

Core Viewpoint - Crude oil futures are experiencing upward momentum due to geopolitical tensions, particularly the U.S. actions aimed at disrupting Venezuela's oil trade and increasing pressure on Nicolás Maduro [1][2] Group 1: Market Reactions - WTI crude oil settled at $58.38 per barrel, reflecting a 0.6% increase [2] - Brent crude oil rose to $62.38 per barrel, marking a 0.5% gain [2] Group 2: Geopolitical Context - The U.S. is intensifying efforts in the Caribbean to cut off Venezuela's oil trade, contributing to the rise in crude prices [1] - Ongoing tensions between the U.S. and Venezuela, along with slow progress in Russia-Ukraine peace talks, are influencing market dynamics [2]