The Fox News Rundown Business Rundown: What the Venezuela Raid Means—and Doesn’t Mean—for Gas Prices
Jan 5, 2026
Kenny Polcari, Chief Market Strategist at SlateStone Wealth, shares insights on the geopolitical and market implications of Nicolás Maduro's recent courtroom drama. He argues that while the operation in Venezuela has stirred investor interest in energy stocks, it won't significantly affect short-term gasoline prices. Polcari discusses WTI trading trends and the long-term possibility of accessing Venezuela's oil reserves. He also predicts a normal return for markets in 2026, driven by tech and AI stocks, along with the impact of potential Fed changes on inflation.
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Venezuela Won't Move Gas Prices Now
- Venezuelan oil reserves matter long term but not short term for prices.
- Kenny Polcari says damaged infrastructure means Venezuelan production won't affect pump prices for years.
Supply Glut Keeps Oil Range-Bound
- Global supply and U.S. production create a near-term oil glut.
- Polcari expects oil to churn around $55–$59 until the glut eases in Q1 2026.
Market Rally Reflects Optionality, Not Output
- Investor enthusiasm reflects optionality, not immediate production gains.
- Polcari warns rebuilding Venezuela will take years and large CapEx before volumes rise.