bearsshsignal

Urgent: Trump stated that the United States has secured control of the majority stake in more than 65 billion barrels of proven oil reserves in Venezuela.
He noted that the deal was made with the country’s interim government and private-sector partners, with no cost to American taxpayers.
Impact of the news on the global oil market and oil trading:
In the short term (the current session and upcoming trades), the overall market trend will be bearish in favor of the bears due to the expected surplus in supply. In the medium term, the ability of prices to rebound back to equilibrium will depend on how quickly this political agreement is converted into actual barrels that are pumped into the market.
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