Oil futures rose Thursday morning, finding support a day after President Trump said he was revoking a license issued by the Biden administration that had allowed Chevron to produce oil in Venezuela.

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,

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