Oil prices rise on Venezuela fears, but Russia-Ukraine peace hopes eye weekly fall

• Oil prices rose Friday due to US-Venezuela tensions over potential sanctions on Venezuelan oil tankers.
• Despite Friday's rise, prices are still projected to fall this week, driven by hopes for a Russia-Ukraine peace deal.
• The US seized a Venezuelan oil tanker, intensifying pressure on President Maduro and raising concerns about global oil supply.
• A potential Russia-Ukraine peace agreement could lead to more Russian oil entering the market, influencing future prices.
• IEA revised its 2026 global oil demand forecast upwards and supply growth downwards, suggesting a smaller surplus, contrasting with OPEC's balanced market prediction.

Why It Matters: Oil prices are volatile due to global conflicts, impacting your daily expenses.