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Trump Announces Oil Deal: India to Buy Venezuelan Crude Instead of Iranian

Trump says India will buy Venezuelan, not Iranian oil, as US controls Venezuela's oil. India's reliance on Russian oil complicates the shift.

Feb 1, 2026, 11:03 UTC

Coverage Timeline

7 items
Geopolitical Risk Premium Keeps Oil Prices Elevated Monthly Despite Brent Nearing $68
Oil prices stay high monthly due to geopolitical risks, despite a recent dip, with tensions near the Strait of Hormuz driving the risk premium.
Jan 30, 2026, 05:04 UTC
Greenland Tensions and Sanctions Reshape Risk Pricing, Pressure Oil: Brent Near $64, WTI Below $60
Greenland tensions and sanctions weigh on oil; Brent near $64, WTI below $60, as traders eye inventories and Kazakhstan outage limits gains.
Jan 21, 2026, 12:40 UTC
Gold Surpasses $4,720 and Silver Nears $94.5 Amid Greenland Tensions and Shift to Safe Havens
Gold hits $4,720 and silver nears $94.5 as US-EU tensions over Greenland drive safe-haven demand; investors await US PCE report.
Jan 20, 2026, 13:44 UTC
Safe Havens Drive Gold to $4,670 and Silver to $93.2 per Ounce Amid US Tariff Escalation on Europe
Gold hit $4,670/oz, silver $93.2/oz, as US-EU tariff tensions spur safe-haven demand; silver also gains from supply deficit and critical mineral statu
Jan 19, 2026, 11:09 UTC
ADNOC Explores Investment in Venezuelan Gas Sector to Expand International Presence
ADNOC is considering investing in Venezuela's gas sector for global expansion, pending legal, financial, and political clarity.
Jan 16, 2026, 08:45 UTC
Oil Prices Plunge Sharply: WTI at $59.1 and Brent Near $63.6 as Geopolitical Risk Premium Fades
Oil prices fell sharply as US-Iran tensions eased, with WTI at $59.1 and Brent at $63.6, erasing recent geopolitical risk premiums.
Jan 15, 2026, 17:13 UTC

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