U.S. presidents have long been accused of plotting to control foreign oil. But President Trump has asserted a U.S. right to take it.

Once viewed primarily as cyclical or speculative, modern oil and gas is increasingly evaluated by investors as a cash-flowing real asset.

Trump said his administration would run Venezuela until a "safe, proper and judicious transition" could take place, adding that the US would indefinitely control the sale of its oil. Venezuela's National Assembly - which is dominated by lawmakers from the United Socialist Party of Venezuela (PSUV) - swore her in as interim president after Maduro was taken.

Oil prices settled down almost 3% on Thursday in choppy trading, after the U.S. and Iran agreed to hold talks in Oman on Friday.

HOUSTON, Feb 6 (Reuters) - Oil prices settled higher on Friday, reversing earlier losses as traders worried that this week's talks between the U.S. and Iran had failed to reduce the risk of a military conflict between the two countries.

We’re standing up not just for ourselves, but for the principle that government must respect property rights.”

Oil analysts who worked in Iraq say Iraqi oil sales had more protections after the U.S. invasion than Venezuelan oil sales today.

By Shadia Nasralla LONDON, Feb 4 (Reuters) - Oil prices rose on Wednesday after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation between Washington and Tehran ahead of planned talks.

Italian olive oil producers say a surge of cheap Tunisian imports has triggered a collapse in prices, increasing tensions between growers and the country’s powerful bottling industry. Farmers’ group Coldiretti said imports from Tunisia rose about 40 per cent year on year in the first 10 months of 2025,