January 8, 2026
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Ukraine News Today

Oil prices are falling amid the situation in Venezuela

The decline in oil prices also affected shares of energy companies”, — write: www.radiosvoboda.org

Oil prices continued to fall on Wednesday after US President Donald Trump said Venezuela would hand over millions of barrels to the United States.

Brent crude oil futures fell by 11 cents to $60.59 per barrel, while West Texas Intermediate crude fell 27 cents to $56.86 per barrel, Reuters writes.

The decline in oil prices also affected the shares of energy companies BP and Shell, which fell by almost three percent.

US President Donald Trump said that the interim government of Venezuela will transfer 30 to 50 million barrels of sanctioned oil to the United States of America. According to him, this oil will be sold at the market price, and he, as the president of the United States, will control this money to “ensure that it is used for the benefit of the people of Venezuela and the United States.”

Crude oil has fluctuated sharply since on the night of January 3, US forces struck military facilities in the Venezuelan capital, Caracas, and captured the country’s president, Nicolás Maduro, and his wife, Celia Flores. The US authorities do not consider Maduro to be the legitimate president of Venezuela and accuse him and Flores of conspiring to commit “narco-terrorism”.

The United States representative to the United Nations, Michael Waltz, said that the removal and detention of Venezuelan leader Nicolás Maduro and his wife was “a law enforcement operation with the support of the US military.” According to him, the USA is not at war with Venezuela and is not planning an occupation.

Nicolás Maduro and his wife Celia Flores appeared in court in New York on January 5. They were charged with four counts – conspiracy to commit narco-terrorism, conspiracy to import cocaine, possession of machine guns and explosive devices, conspiracy to purchase machine guns and explosive devices.

The couple refused to admit their guilt, and Maduro said that he is still the president of Venezuela and considers himself a prisoner of war.

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