Oil inches higher as traders are more focused on short term effects of the Venezuela oil blockade than longer term supply additions. Trump’s Venezuela Shock Jolts Energy Markets Awake - Trump’s ouster of Venezuelan President Nicolas Maduro has breathed new life into stale oil markets, particularly for US equities that are believed to benefit from cheap Venezuelan crude. - Even though less than a week has passed so far in 2026, shares of US oil major Chevron are already up 8% since the beginning of the ...