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Oil prices fall after US operation in Venezuela – SUCH TV
Oil prices fell on Monday after a US military operation seized Venezuelan leader Nicolas Maduro, whose country has the world’s biggest proven crude reserves.
Increased volumes of Venezuelan oil entering the market would add to oversupply concerns and put further pressure on oil prices, which have fallen in recent months.
In morning trade in Asia, Brent Crude was down 0.21 percent at $60.62 per barrel while West Texas Intermediate was off 0.35 percent at $57.12, both off earlier lows.
US forces attacked Caracas in the early hours of Saturday, bombing military targets and spiriting away Maduro and his wife to face federal narcotrafficking charges in New York.
US President Donald Trump has said that the United States will now “run” Venezuela and send US companies to fix its badly dilapidated oil infrastructure.
After years of under-investment and sanctions, Venezuela currently pumps around one million barrels per day, down from around 3.5 mb/d in 1999.
But analysts say that alongside other major questions about Venezuela’s future, substantially lifting its oil production will not be easy or quick.
“Any recovery in production would require substantial investment given the crumbling infrastructure resulting from years of mismanagement and underinvestment,” UBS analyst Giovanni Staunovo told AFP.
Investing today also holds little appeal: oil prices are weighed down by a supply glut and fell in 2025 despite significant growth headwinds like Trump’s tariff war and the ongoing conflict in Ukraine.
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MUMBAI: Some friction, long viewed as a flaw in digital payments, is now being seen as a feature. An RBI discussion paper proposes to introduce a short delay, or “lag”, for high-value transfers above Rs 10,000. This gives customers time to rethink a transaction and cancel it if they suspect fraud. Customers may also be allowed to whitelist trusted payees so that genuine payments are not delayed.Another proposal is to provide stronger protection to vulnerable users such as senior citizens by requiring an additional confirmation from a “trusted person” for large transactions above Rs 50,000. The paper also suggests a “kill switch” to instantly block all digital transactions in case of suspected fraud.Banks are expected to identify suspicious transactions in real time and seek reconfirmation from customers before processing them. They will need to build systems to implement delays, allow cancellations, and generate risk alerts. Banks are also expected to tighten due diligence by linking the level of activity in an account to the customer’s profile. For instance, accounts with low verified income may face limits on how much money they can receive unless additional checks are completed. A key finding is that most frauds now are the result of human vulnerability. The growth of digital payments has amplified this risk.
The project was part of a package of tech investment promising the UK could become an AI superpower.
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