WTI Crude Oil futures hit a 6-session high of $58.87 before reversing to trade lower near the close of the session. Market participants focused on the potential return of Venezuelan heavy crude oil, which produced 3.5 million barrels per day at its peak compared to the current output of 1 million barrels per day. While the U.S. administration signaled interest from Western firms, experts suggest a production turnaround could take 18 months. Additionally, a rallying U.S. Dollar put further pressure on WTI Crude Oil futures as the currency resumed its climb following a brief drop.