US-Venezuela Oil Tensions Drive Crude Prices Up; Sanctions Rollback Eyed

• Crude oil prices rose as traders anticipated increased US control over Venezuela's oil sales and seizure of tankers.
• West Texas Intermediate (WTI) was around $56 per barrel, while Brent settled below $60.
• US Energy Secretary Chris Wright confirmed plans to release stored crude oil and sell Venezuela's supply, with marketing already underway.
• Venezuela's state oil company is negotiating with Washington for crude sales, potentially through an arrangement with Chevron Corp.
• President Donald Trump is pressuring US companies to rebuild Venezuela's energy industry, selectively rolling back sanctions.

Why It Matters: US actions on Venezuela's oil sector are impacting global crude prices and reshaping energy markets.