Oil prices slide today on Trump’s Venezuela crude deal as inventories loom
London, Jan 7, 2026, 10:50 GMT — Regular session Oil prices fell on Wednesday after U.S. President Donald Trump said the United States had reached a deal to import up to $2 billion worth of Venezuelan crude, a move traders read as adding supply into a market already wrestling with a glut narrative. Brent crude futures fell 35 cents, or 0.6%, to $60.35 a barrel by 0928 GMT, while U.S. West Texas Intermediate crude fell 52 cents, or 0.9%, to $56.61. Both benchmarks extended declines of more than $1 from the previous session. Reuters The Venezuela headline lands as investors