White House says “if something happens” in Venezuela, oil prices go down

Treasury Secretary Scott Bessent has said the United States is experiencing economic benefits as a result of President Donald Trump’s peace deals, and that oil prices could fall further if “something happens down in Venezuela.”

Speaking to Fox News’ Laura Ingraham on Thursday, Bessent said: “The peace deals; we are seeing a peace dividend from that. And I think there’s a very good chance that if something happens with Russia-Ukraine, if something happens down in Venezuela, that we could really see oil prices go down even more.

“Oil and gasoline prices are down substantially under President Trump – and that is really the key to affordability is lower energy. And energy goes into food prices.”

He added: “I am very confident about job growth and the momentum that we’ve got for next year. And I think what it is going to take is for people to see, that the president has done peace deals, trade deals and tax deals.”

It comes as the U.S. faces mounting tensions with Venezuela after carrying out more than 20 military strikes on alleged narco-boats carrying drugs in the Caribbean. The U.S. has also moved major military assets to the region.

This is a developing story. More to follow.