Rolling coverage of the latest economic and financial news, as Brent crude drops back to $60 a barrel Venezuela ‘turning over’ $2bn in oil to US, Trump says, in move that could cut supply to China Trump’s move on Venezuela’s oil is attracting criticism. “This is confiscatory, imperialistic and there is no justification for it,” said Jeffrey Sonnenfeld , a professor at Yale’s business school, the Financial Times reports . “There is also no need for this oil as we have a global oil glut.” “This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Continue reading...