Oil prices rose on Tuesday as the market weighed expectations of ample global supply this year against uncertainty around Venezuelan crude output after the U.S. capture of President Nicolas Maduro. Brent crude futures gained 46 cents,

The drop in flows comes as Ukraine maintains its attacks on Russian oil infrastructure, including refineries, pipelines, ports and tankers. Drone strikes on vessels in the Black Sea have led tankers heading to Novorossiysk to adopt a more southerly route along Turkey’s coast.

Shares in Chevron, Exxon and other energy companies climbed, while oil prices jumped, on Monday after Maduro's ouster.

The global oil market is likely to be under pressure in 2026 as growing supply and weak demand curb prices, and traders monitor OPEC+ for policy signals and any attempts to bolster the market, a Reuters poll showed on Monday.

Oil and gasoline prices could rise slightly due to Venezuelan export losses and geopolitical uncertainty, though pump prices remain at COVID-19 lows.

The Middle Eastern crude oil market is showing more signs of weakness amid growing concerns about a global glut that could drag prices still lower. The discount of the regional Dubai benchmark to Brent crude oil futures was at the widest since August on Monday,

New Jersey motorists are seeing the lowest gas prices in years, even against the backdrop of turbulence in Venezuela.

Oil prices rise as Brent crude approaches $62 per barrel fueled by geopolitical tensions in Venezuela and the Middle East, despite ongoing concerns about a surplus in global oil supply.

A petroleum expert weighs in on whether the volatile situation in Venezuela is a factor in the lower gasoline prices.