Trump's Venezuela Oil Deal Sinks Crude Prices Over 2%

• West Texas Crude fell over 2% and Brent settled below $61 after President Trump announced a new oil supply deal with Venezuela.
• Trump stated Venezuela's Interim Authorities will send 30-50 million barrels of "sanctioned oil" to the United States.
• The oil will be sold at market rate, with proceeds controlled by Trump to benefit both Venezuelan and US people.
• This volume represents 30-50 days of Venezuela's pre-blockade oil production, valued at up to $2.8 billion.
• Energy Secretary Chris Wright is tasked with executing the plan to bring the oil to US unloading docks.

Why It Matters: Trump's Venezuela oil deal sends crude prices tumbling, reshaping global energy supply.