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Geopolitical Support and Venezuela Deal Risk – BNY

BNY’s Wee Khoon Chong notes Oil prices are underpinned by renewed U.S.–Iran tensions near the Strait of Hormuz and President Trump’s claim of a deal granting U.S. majority control over Venezuela’s vast reserves. Chong stresses elevated energy costs, tighter global crude flows and limited detail on legal terms, suggesting uncertainty around implementation and market impact. […] The post geopolitical support and Venezuela deal risk – BNY appeared …

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The main risk factor remains the Middle East. The return of attacks between the US and Iran (after several weeks of relative calm) raised the oil risk premium and reinforced concerns about navigation in the Strait of Ormuz. Any further escalation or, on the contrary, signs of mediation could move markets significantly.

·Lisboa, Portugal
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The world energy market faces unprecedented challenges: on the one hand, the permanent escalation of the Middle East conflict threatens the transit of raw materials through the Strategic Ormuz Strait — for the first time in weeks, Washington and Tehran have exchanged spot strikes; on the other hand, the stability of OPEC, which has been shaken by the recent UAE demarche, risks becoming a systemic crisis; Venezuela's leadership is seriously consi…

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Rigzone broke the news on Monday, August 31, 2026.
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