Oil prices rose 2% 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,

A permit issued by the United States government allowing energy giant Chevron Corp. to pump and export Venezuelan oil will be terminated this week.

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.