Crude Oil Turmoil: China Angered by Trump's Venezuela Deal, Global Prices Fall

• Global crude oil prices fell after the US persuaded Venezuela to divert oil supplies from China.
• Trump's administration aims to control Venezuela's oil reserves, planning to refine and sell up to 50 million barrels.
• China strongly criticized the US, calling its actions a violation of international law and an infringement on Venezuela's sovereignty.
• The deal could divert oil cargo destined for China, potentially leading Beijing to seek oil from Iran and Russia.
• The US stated proceeds from oil sales would benefit both Venezuelan and US interests, though Venezuela made no official announcement.

Why It Matters: US-Venezuela oil deal sparks China's anger, drops global crude prices, and reshapes oil trade.