WTI drifts higher above $57.00 on Venezuela turmoil
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West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $57.30 during the early Asian trading hours on Monday. The WTI price edges higher amid geopolitical tensions. Traders brace for the release of the American Petroleum Institute (API) crude oil stockpiles report on Tuesday for fresh impetus. The US President Donald Trump administration called a “large-scale strike against Venezuela” and captured its president Maduro to face charges, per CNN. This action came without the approval of Congress. Trump further stated that the US will be running Venezuela until it can do a safe, proper, and judicious transition. US Secretary of State Marco Rubio said on Sunday that the administration will use leverage over oil to force further change in Venezuela. Concern that supply may be disrupted after the US snatched the Venezuelan leader from Caracas at the weekend, and Trump said Washington would take control of the oil-producing nation, boosting the WTI price. “Prices may see modest upside on heightened geopolitical tensions and disruption risks linked to Venezuela and Iran, but ample global supply should continue to cap those risks for now,” said Ole Hansen, head of commodities research at Saxo Bank. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) kept oil output unchanged on Sunday while avoiding the discussions of the geopolitical crises affecting several of the producer group’s members. The group will next meet again on February 1, OPEC+ said. The API crude oil stockpiles report will be the highlight on Tuesday. A larger-than-expected crude oil inventory draw indicates stronger demand and could boost the WTI price, while a bigger build than estimated signals weaker demand or excess supply, which might drag the WTI price lower. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West…
Filed under: News - @ January 5, 2026 1:32 am