The price of the Brent crude oil barrel, the European reference, corrects the drop recorded on Monday and stands at $61.96, with an intraday low of $61.31, accumulating a 0.32% increase compared to the previous close. Meanwhile, the West Texas Intermediate (WTI) crude, the US reference, rises by 0.19% to $58.43, with an intraday low of $57.85.
The price movements occur in a context marked by the US military intervention in Venezuela and the capture of its president, Nicolás Maduro, as well as by future plans of Donald Trump to intervene in the Venezuelan oil industry. Trump announced that major US oil companies could expand their operations in the country in less than 18 months, generating "a huge amount of money," which could be recovered through revenues or government refunds. Over the weekend, the president reaffirmed that he was in charge of Venezuela and prioritized "rebuilding" the country, especially its oil industry, for which he claimed "full access."
In addition to the uncertainty about Venezuela, markets are also digesting the decision of OPEC+ to maintain its strategy unchanged. After their Sunday meeting, the eight countries that had announced additional voluntary adjustments in April and November 2023 (Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman) confirmed that they are pausing production increases in February and March 2026, emphasizing the importance of monitoring market conditions and maintaining flexibility for future adjustments.
In this scenario of crude oil price volatility, Ibex 35 closed this Tuesday, Three Kings' Day, with a slight increase of 0.19%, reaching 17,647.10 points, after hitting 17,700 points at the opening, historical highs. However, some companies linked to the energy sector were affected: Repsol saw a 2% decline, reflecting the uncertainty generated by the situation in Venezuela and the potential impact of US policy on oil supply and prices.