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(Bloomberg) -- Investors in US government bonds are starting to bet the Federal Reserve will soon need to pivot from worrying about sticky inflation to fretting about slowing economic growth. Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNew York’s Congestion Pricing Plan Faces Another Legal ShowdownNYC to Shut Migrant Center in F

Oil prices rose more than 1.5% on Thursday as supply concerns resurfaced after U.S. President Donald Trump revoked a licence granted to U.S. oil major Chevron to operate in Venezuela. Gains were capped, however, by signs of a potential peace deal in Ukraine, which could result in higher Russian oil flows, and an unexpected rise in U.S. gasoline and distillate stocks. Brent crude oil futures were up $1.10, or 1.5%, at $73.63 a barrel by 1413 GMT.

Since it first imposed sanctions on Venezuela's energy sector in 2019, the United States has granted individual licenses to some oil companies that allow them to export the South American country's oil to specific destinations. Washington had imposed the sanctions over reports by international observers of irregularities in elections that have repeatedly kept President Nicolas Maduro in power. U.S. President Donald Trump on Wednesday announced he was reversing a key license to U.S. producer Chevron Corp, accusing Maduro of failing to make progress on electoral reforms and migrant returns.

U.S. imports of crude oil from Venezuela averaged 222,000 barrels per day (bpd) in the first 11 months of 2024, according to U.S. Energy Information Administration data, making it the fourth largest crude supplier to the United States. While Venezuela's oil accounted for only 3.5% of total U.S. crude imports in November, it was about 13% of crude oil imported by U.S. Gulf Coast refineries, according to the EIA. About 90% of all crude from Venezuela last year headed to the U.S. Gulf Coast, and the remaining 10% went to the East Coast, the data showed.

(Bloomberg) -- Oil slipped to a new low for the year as US President Donald Trump blitzed markets with a slew of conflicting announcements on trade. Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNew York’s Congestion Pricing Plan Faces Another Legal ShowdownNYC to Shut Migrant Center in Former Hotel as Crisis EasesWest Texas Inter

A preliminary economic agreement between Ukraine and the United States would ensure long-term U.S. involvement in rebuilding the country, but the deal leaves the question of security guarantees sought by Kyiv to future negotiations. According to the final version of the deal obtained by The Associated Press, the United States and Ukraine will establish a co-owned and jointly managed investment fund aimed at financing the reconstruction of Ukraine and its war-damaged economy.

Almost two-thirds of the $38 billion in funds were pledged to his businesses in the past five years, per the report.