Archive · 9 Jan 2026

Oil Prices Rise Amid Geopolitical Tensions and Venezuela Developments

Oil Prices Rise Amid Geopolitical Tensions and Venezuela Developments

Oil prices are going up because of some big events happening.

The US President, Donald Trump, is making threats against Iran, which is making people worried.

He's also doing things to control oil in Venezuela, where he helped remove the president, Nicolás Maduro.

This is making oil companies like Chevron and Exxon Mobil meet with Trump to talk about Venezuela's oil.

Meanwhile, the US Supreme Court is deciding if Trump can put tariffs on things without asking Congress.

All these things are making oil prices go up and down.

There's also a big meeting in Switzerland to remember people who died in a fire at a ski resort.

Sources