Oil prices dipped on Saturday after the United States launched a surprise military operation in Venezuela, capturing President Nicolas Maduro and his wife on drug trafficking charges, triggering sharp moves across global markets.Crude prices fell as investors bet that the political shift could eventually pave the way for higher oil output from Venezuela, which holds the world’s largest proven crude reserves. At the same time, heightened geopolitical tensions boosted demand for safe-haven assets such as gold and lifted defence sector stocks.US forces used a combination of special operations commandos, air strikes and naval assets to seize Maduro and his wife from Caracas. The leftist leader now faces narcotrafficking charges. Their President Donald Trump said Washington would “run” the South American country and allow American oil companies to return and tap its vast energy reserves. According to OPEC, Venezuela holds around 303 billion barrels of proven oil reserves, though production has remained depressed in recent years due to chronic underinvestment and infrastructure decay.Market participants, however, played down the immediate supply impact. “The market will likely absorb this short-term supply uncertainty, with a limited impact on oil prices,” said Helge Andre Martinsen, oil analyst at DNB Carnegie.the shock reverberated across other asset classes too. Defence stocks and precious metals gained; technology shares continued their upward momentum amid optimism over potential US interest rate cuts later this year.In currency markets, the US dollar traded mixed, while both gold and silver prices advanced as investors sought safe-haven assets amid elevated uncertainty.
