Oil drilling rigs
Oil prices extended their gains on Thursday as renewed concerns over global supply disruptions emerged following President Trump's revocation of Chevron's operating license in Venezuela.
Brent crude futures for April delivery leapt 2.1%, or $1.51, to settle at $74.04 per barrel.
US West Texas Intermediate (WTI) crude futures for April delivery also jumped 2.5%, or $1.73, to $70.35.
Trump said on Truth Social he was "hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022".
OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global supply picture because of fresh US sanctions on Venezuela, Iran and Russia, Reuters reported, citing sources.
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