Oil prices rebounded on Thursday as supply concerns resurfaced after U.S. President Donald Trump's revoked a licence granted to U.S. oil major Chevron to operate in Venezuela. Gains were capped, however,

The Trump administration, in yet another foreign policy power move, cancels a Biden-era license granted to CVX for producing and exporting oil in Venezuela.

The US president cited Venezuela's “electoral conditions” as a reason, adding that the regime hasn’t taken back “violent criminals” at a fast-enough pace.