Vi e w p o i n t | 05 Jan 2026 05:26:42 ET │ 17 pages Global Multi-Asset Strategy Venezuela Operation: Macro and Market Implications CITI'S TAKE The US special military operation in Venezuela on Jan. 2-3 has imposed change on the governing regime, and some eventual engagement of the US now appears likely. US strategy moving further appears focused on oil concessions, and oil supply risks remain elevated, supporting a $60/bbl Brent in the coming weeks. Effects globally will likely be short-lived. The politic ...

Group 1 - Oil prices are experiencing gains due to concerns over Russian supply risks, with Brent crude rising 0.8% to $67.97 per barrel and WTI increasing by 1.1% to $63.99 per barrel [1][2] - Ukraine has intensified its attacks on Russian energy infrastructure, targeting significant refineries and export facilities, including the Primorsk terminal [2]