Oil rises as market weighs Venezuela supply risks

Core Insights - Oil prices increased following the U.S. decision to impose greater economic pressure on Venezuelan oil shipments [1] - The U.S. conducted airstrikes against Islamic State militants in northwest Nigeria at the request of the Nigerian government, which may have implications for regional stability and oil supply [1] Oil Industry Impact - The U.S. actions are likely to affect Venezuelan oil exports, which could lead to tighter global oil supply and potentially higher prices [1] - Increased military activity in regions with oil production, such as Nigeria, may disrupt operations and influence market perceptions of risk associated with oil supply [1]