Oil Prices Surge on Iran Tensions, Venezuela Moves; Trump's Influence Grows

• Oil prices, including West Texas Intermediate and Brent, extended gains, with WTI rising over $58 a barrel.
• US President Donald Trump's threats against Iran over protester killings and his focus on Venezuela's energy sector are driving market sentiment.
• A White House meeting with oil executives, including from Exxon Mobil and Chevron, is set to discuss rebuilding Venezuela's energy sector.
• Chevron is rapidly loading Venezuelan crude for US refiners, while trading houses seek licenses to divert more oil to the US.
• US measures could shift Venezuelan oil flows from China to American processors, prompting Chinese refiners to seek alternatives like Canadian supply.

Why It Matters: Geopolitical tensions and US policy shifts in Iran and Venezuela are significantly impacting global oil prices and trade flows.