Oil Prices Soar: Venezuela & Iran Supply Worries Fuel Market Rally

• Crude oil prices surged for a second consecutive day, driven by supply uncertainty from Venezuela and unrest in Iran.
• Brent futures rose 0.71% to $62.43/barrel and WTI climbed 0.68% to $58.15/barrel, marking weekly gains.
• US President Trump's threats to Iran and actions against Venezuela's Maduro are intensifying supply disruption concerns.
• Major oil executives, including from Exxon Mobil and Chevron, are meeting Trump to discuss rebuilding Venezuela's energy sector.
• US measures could redirect Venezuelan crude from Chinese refiners to US processors, impacting global supply dynamics.

Why It Matters: Geopolitical tensions in Venezuela and Iran are driving a significant surge in global crude oil prices.