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Oil prices slip as global supplies counter upheaval in Venezuela
Business World Philippines
|January 06, 2026
Oil prices drifted lower on Monday, as adequate global supplies offset concerns about supply disruptions after the United States captured Venezuelan President Nicolas Maduro in an audacious raid over the weekend.
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Brent crude futures fell 21 cents, or 0.4%, to $60.54 a barrel by 0452 GMT, while US West Texas Intermediate (WTI) crude was 28 cents, or 0.5% lower, at $57.04 a barrel.
The key oil benchmarks were volatile in early Asian trade, opening lower but inching up shortly after, only to pare gains and turn red again as investors assessed the political upheaval in the OPEC member nation and the impact on oil supply.
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