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 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.

President Trump said Wednesday he was revoking a Biden-era license allowing Chevron to produce oil in Venezuela over what he said was strongman Nicolás Maduro’s failure to assist in deporting migrants.