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Crude oil futures settle lower on Tuesday

07 Jan 2026 Evaluate

Crude oil futures ended lower on Tuesday as investors resorted to profit-taking while analysing the consequences of U.S. military operation in Venezuela on global oil supply, along with other geopolitical tensions. After ousting President of Venezuela Nicolas Maduro, U.S. President Donald Trump announced that the U.S. would be ‘running’ the nation and remarked that U.S. oil majors have now free access to Venezuela's oil.

Benchmark crude oil futures for February delivery decreased $1.19 or 2.04% to settle at $57.13 a barrel on the New York Mercantile Exchange. Brent crude for March delivery fell $1.06 or 1.72% to settle at $60.70 a barrel on London's Intercontinental Exchange.

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