This could have implications for the oil market.

Venezuelan President Nicolas Maduro agreed a deal a deal with the political opposition for elections to be held later this year. This deal caused the United States to temporarily ease oil sanctions on Venezuela.

But President Maduro has now warned that the election deal is in danger of collapse.

If the deal does collapse it should, at the margin, support oil.

So far, oil has paid more attention to this news earlier:

oil venezuela election 26 January 2024

More here