Oil Steadies as Traders Weigh US Moves on Venezuela, Oversupply

Oil steadied to end the week, with OPEC+ expected to focus on another modest output increase when key members convene this weekend and as US President Donald Trump denied that he was planning a military strike on Venezuela. Oil prices were up earlier in the session on reports that the US plans to perform military strikes on targets in Venezuela that include military facilities used to smuggle drugs, according to the Wall Street Journal and the Miami Herald, citing US officials and people familiar with the matter. Trump later denied the report, and contradicted his own past statements that he was preparing land attacks after a series of boat strikes, causing futures to ease. Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)