Oil Market Appears 'Unbothered, Unimpressed' by U.S. Action on Venezuela

Core Viewpoint - The oil market remains largely unaffected by the recent U.S. intervention in Venezuela, as the impact of Venezuela's oil exports is minimal in the context of current supply levels [1] Group 1: Market Reaction - Oil prices are trading sideways, indicating a stable market despite geopolitical events [1] - Near-term supply disruption risks are considered limited, contributing to the stability in oil prices [1] Group 2: Future Outlook - Julius Baer projects that oil prices will remain in the high $50s for much of 2026, reflecting a cautious but stable outlook for the oil market [1]