WTI eases after sharp rebound as Venezuela risks seen contained

WTI crude oil futures edged lower toward $58 per barrel on Tuesday, giving back some gains after a volatile prior session that ended nearly 2% higher, as markets reassessed the real supply impact of recent US actions toward Venezuela. Despite holding the world?s largest proven oil reserves, Venezuela contributes less than 1% to global output, limiting the potential for meaningful disruptions to international supply. The bearish tone was reinforced by Saudi Arabia?s decision to cut crude selling prices to Asia for a third consecutive month, underscoring weak demand conditions. Meanwhile, OPEC+ stuck to its plan to pause output increases in Q1 amid lingering concerns over surplus. In the domestic market, MCX January crude oil futures slipped 0.4% to ₹5250 per barrel, tracking softer global cues.

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