Oil falls after Trump says Venezuela will supply to US

Group 1 - Oil prices fell after the U.S. announced a deal to import up to $2 billion worth of Venezuelan crude, increasing supplies to the U.S. [1][2] - Brent crude futures decreased by 35 cents (0.6%) to $60.35 per barrel, while U.S. West Texas Intermediate crude fell by 52 cents (0.9%) to $56.61 per barrel [1][2] - The deal may require rerouting cargoes initially bound for China, as Venezuela has millions of barrels of oil that have been unable to ship due to a blockade [2][3] Group 2 - The U.S. pressure campaign against Venezuela has led to significant geopolitical tensions, with Venezuelan officials accusing the U.S. of attempting to seize oil reserves [3] - Analysts from Morgan Stanley predict a potential oil market surplus of up to 3 million barrels per day in the first half of 2026 due to weak demand growth and rising supply [4] - BMI analysts suggest that increased Venezuelan oil exports could hinder the expansion of productive capacity in the U.S. and elsewhere, raising medium-term oil price expectations [5]