Chevron(US:CVX) Xin Lang Cai Jing·2026-01-09 20:12Core Viewpoint - Oil prices rose on Friday due to market concerns over potential disruptions in Iranian production and uncertainties surrounding Venezuelan supply [1][7]. Group 1: Oil Price Movements - Brent crude futures increased by $1.35, a rise of 2.18%, closing at $63.34 per barrel [2][8]. - West Texas Intermediate (WTI) crude futures rose by $1.36, a gain of 2.35%, closing at $59.12 per barrel [2][8]. - Both benchmark oil prices rebounded over 3% after two consecutive days of decline [3][9]. Group 2: Supply Concerns - Market worries about supply disruptions are heightened due to escalating protests in Iran, a major oil-producing country in the Middle East [3][9]. - The ongoing unrest in Iran and concerns about the potential spread of the Russia-Ukraine war affecting Russian oil exports are contributing to supply anxiety [3][9]. Group 3: Venezuelan Oil Supply - The White House is set to meet with oil companies and traders to discuss Venezuelan export transactions [4][9]. - Following the recent arrest of Venezuelan President Maduro, there are calls for Venezuela to fully open its oil industry to the U.S. [4][10]. - U.S. officials indicated that Washington will indefinitely control the country's oil sales and revenues [4][10]. - Major oil companies, including Chevron and global traders, are bidding for U.S. government contracts to sell up to 50 million barrels of oil accumulated by Venezuela's state oil company during severe sanctions [4][10]. Group 4: Market Monitoring - Market analysts are focusing on the sales and delivery outcomes of Venezuelan oil inventories in the coming days [5][10]. - Internet monitoring organization NetBlocks reported nationwide internet outages in Iran amid ongoing protests due to economic hardships [5][10]. - Global oil inventories are still on the rise, with oversupply potentially suppressing oil price increases [6][10].