Oil prices slipped as global markets and U.S. futures took the U.S. arrest of Venezuela President Nicolas Maduro—and President Trump’s promise to open up the country’s oil reserves—in their stride. Traders turned to safe-haven assets and bulked up on defense stocks, as the biggest market movements in early European trading came away from oil majors. Though Venezuela holds the world’s largest proven oil reserves, the petrostate today pumps less than 1% of global crude supplies and much of its production capacity and infrastructure is unfit for purpose. Investors sought safety in dollar and precious metals following the news, while Bitcoin held above $92,000.

Source: Mint January 05, 2026 14:40 UTC