President Donald Trump has revoked the licenses that allowed several transnational oil and gas companies to operate in Venezuela despite the country being under US sanctions. The cancellation of the licenses will prevent PDVSA from using oil to pay the foreign energy companies for gas,

President Trump on Monday announced that Venezuela will be hit with a “secondary tariff,” arguing the country has sent migrants that are criminals and gang members into the United

President Donald Trump said Monday any country that buys oil and gas from Venezuela will face a 25% tariff on any trade that they do with the United States. The tariff will take place on April 2, the president said in a post on his social media platform Truth Social.

Oil prices climbed about 2% to a five-week high on Monday on worries supplies could decline if U.S. President Donald Trump follows through on threats to impose more tariffs on Russia and to possibly attack Iran.

President Donald Trump’s secondary tariffs are “unprecedented and legally questionable,” according to the consulting firm Rapidan Energy.

Oil prices rose yesterday amid growing threats to oil supplies. ICE Brent settled almost 2.8% higher after with Trump threatening secondary tariffs on Russia and Iran. Read more

Oil diplomacy could become a hallmark of Donald Trump's second term in office, if the last few weeks are any guide, but energy markets have mostly shrugged off his recent whirlwind of threats against Iran and Russia.

Oil prices extended their gains on Tuesday after threats by U.S. President Donald Trump to impose secondary tariffs on Russian crude and attack Iran, while gold (XAUUSD:CUR) hit yet another record high.

Spain's Repsol is in an "open and fluid dialogue" with U.S. authorities as it explores ways to keep operating in Venezuela after Washington moved to revoke its license to export oil from the country,