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Brent and US Oil Prices Fall After Venezuela Developments

Published January 7, 2026, 11:01
Brent and US Oil Prices Fall After Venezuela Developments

Oil prices are falling following Donald Trump's statement regarding the delivery of millions of barrels of oil from Venezuela to the United States. Brent crude fell 0.90% to $60.16 a barrel, while US crude oil fell 1.3% to $56.40 a barrel. Trump stated that Venezuela will deliver 30-50 million barrels of oil, which will be sold at market price and the revenue will be used for the benefit of the people of Venezuela and the United States. Analysts note that these shipments reduce the risk of production cuts in Venezuela and mitigate supply concerns, leading to lower prices.