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Trump says that US oversight of Venezuela could stay on for years

“Only time will tell” how long direct oversight is demanded on VenezuelaWe will rebuild it in a very profitable wayThe oil will take a while; but we’re going to be using oil, and we’re going to be taking oilWe’re getting oil prices down, and we’re going to be giving money to Venezuela, which they desperately need(when asked how long US might oversee Venezuela; 6 months? A year?) “I would say much longer”It’s funny how Polymarket has the galls to say that this isn’t an invasion. But yeah, that’s another controversial take that has been happening on the sidelines of what we’re seeing transpire on the geopolitical stage. As you would expect with any major powerhouse that takes ownership of something, they find it hard to let go. And this will be one of those things that we will see here with Venezuela.As mentioned before, the country is a hotbed for natural resources – not just oil. But for now, that’s the main talking point and Trump wants to squeeze what he can to allow for the US to benefit from that amid this “non-invasion”.He spoke earlier in the day in wanting to drive oil prices back down to $50. So we’ll see about that. But as the situation continues to develop, Russia and China will be the ones in watch to see how they might respond.If Venezuela blocks the US access to oil and/or if Russia and China will still have presence, Trump didn’t rule out sending more military personnel to deal with the situation. His response was:”I can’t tell you that. I really wouldn’t want to tell you that, but they’re treating us with great respect. As you know, we’re getting along very well with the administration that is there right now. They’re giving us everything that we feel is necessary.”
This article was written by Justin Low at investinglive.com.

🔗 Source

💡 DMK Insight

Venezuela’s commitment to rebuilding its oil sector amidst ongoing oversight signals potential volatility in oil prices. As the country aims to lower oil prices while ramping up production, traders should keep a close eye on how this affects global oil supply dynamics. If Venezuela successfully increases output, it could lead to a significant shift in market sentiment, especially for oil futures and related assets. This move might also impact OPEC’s strategies, particularly if they feel pressured to adjust their production levels to maintain price stability. However, skepticism remains about Venezuela’s ability to execute this plan effectively given its historical challenges. Traders should monitor key price levels in crude oil, particularly around $70 per barrel, as a breakout or breakdown could indicate broader market trends. Additionally, keep an eye on geopolitical developments that could influence oil supply chains, as any disruptions could lead to rapid price fluctuations.

📮 Takeaway

Watch for crude oil prices around $70 per barrel; a breakout could signal significant market shifts influenced by Venezuela’s production plans.

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