Oil Rises on US-Venezuela Tensions, Supply Disruption Fears

• Oil prices rose on Monday due to escalating US-Venezuela tensions and fears of supply disruptions.
• Brent crude futures increased 0.4% to $61.37/barrel, while U.S. WTI crude rose 0.4% to $57.67/barrel.
• Venezuelan oil exports have sharply declined following a US tanker seizure and fresh sanctions on shipping.
• Ongoing Russia-Ukraine peace talks and a Ukrainian attack on a Russian oil refinery also influenced market sentiment.
• Lingering oversupply worries and a recent reduction in US oil and natural gas rigs also factored into market dynamics.

Why It Matters: US-Venezuela tensions are pushing oil prices up, affecting your wallet.