Global oil prices declined in early Asian trading as political turmoil in Venezuela unsettled energy markets and increased investor caution.
Brent crude slipped by 0.63 per cent to $60.37 per barrel, reflecting weaker sentiment amid rising geopolitical risks. West Texas Intermediate crude also fell, dropping 0.70 per cent to $56.92 per barrel.
There it is:
Natural gas prices are now down -6% just 15 minutes after futures opened for the first time since Maduro was captured.
And, oil prices are back below $57/barrel and nearing their lowest levels since 2021.
In just about ALL major escalations of geopolitical… pic.twitter.com/LnOesRUiWm
— The Kobeissi Letter (@KobeissiLetter) January 4, 2026Market volatility intensified after recent developments involving Venezuelan leadership. Reports said Nicolás Maduro was arrested following U.S. intervention and flown to New York two days ago. He is expected to appear in a New York court, where he will face charges linked to drug trafficking and terrorism.
With #Venezuela still just 1% of global output, oil prices may stay capped; but refiners like #RIL and offshore drillers could see upside. @soumeet_sarkar with the analysis.
Watch LIVE: https://t.co/vTW8pCGI0C pic.twitter.com/eNlp8AZXsk
— NDTV Profit (@NDTVProfitIndia) January 5, 2026Analysts say the situation has added fresh uncertainty to global energy markets. Venezuela holds some of the world’s largest proven oil reserves, and political instability there often triggers price fluctuations due to concerns over supply, sanctions, and regional security.
Traders are now closely watching diplomatic signals and policy responses from major oil-producing nations. Experts note that continued instability in Venezuela, combined with broader geopolitical tensions, could keep oil markets volatile in the near term.
