Norbert Rücker, an analyst at Julius Baer, wrote in a research report that the oil market appears “unmoved and unconcerned” by the U.S.’s recent intervention in the situation in Venezuela. The head of economics and next-generation research stated: “ 'In the current environment of ample supply, Venezuela’s oil exports are too small to make a significant difference, even if they were to be completely disrupted.' He noted that oil prices continue to trade sideways, and the risk of short-term supply disruptions remains limited. Rücker expects oil prices to fluctuate in the high $50 range for most of 2026.