Oil prices extended gains on Friday as traders assessed heightened geopolitical risks, including U.S. President Donald Trump’s warnings against Iran and ongoing efforts to exert influence over Venezuela’s oil exports.

The U.S. dollar strengthened in early Asian trading, bolstered by expectations for the upcoming jobs report and pending Supreme Court decision on President Trump’s tariff powers. Analysts remain cautious about potential implications for future interest rates.

XRP fell back to $2.18 after failing to hold above $2.28, cooling off an early-2026 rally that had been strong enough to earn the token the label of “new cryptocurrency darling” in a recent CNBC segment. The pullback underscores that even strong bullish narratives must contend with significant overhead supply at key technical resistance levels.

Oil prices saw a slight uptick as U.S. crude inventories fell 3.8 million barrels. Ongoing negotiations for Venezuelan oil sales further complicate market dynamics while analysts predict future oversupply concerns.