The Latest Breaking News from Oil

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Yvette Cooper is expected to update the Commons on the US removal of Nicolas Maduro as president of Venezuela.

US Secretary of State Marco Rubio suggested that Washington will seek to influence policy change in Venezuela through oil blockades, but not be involved in the day-to-day running of the country following a Saturday operation which overthrew and captured Nicolas Maduro.

After US special forces swooped into Caracas to seize Venezuelan President Nicolás Maduro and topple his government, US President Donald Trump said the United States will now “run” Venezuela, including its abundant oil resources.

The price of oil edged higher and precious metals have jumped after U.S. forces captured Venezuelan President Nicolás Maduro in a weekend raid

The raw materials sector has outweighed broader weakness to ballast the bourse, despite oil stocks slipping after the US captured Venezuela's president.

"The physical global oil market situation remains the same. Oil prices have declined due to an oversupplied global oil market."

US Congressman Dan Goldman claims Trump's Venezuela operation is a 'massive gift' to oil executives who donated $500 million after the president promised them favourable policies.

Key members led by Saudi Arabia and Russia agreed on Sunday to keep production levels steady through the end of March.