Oil gained last week to rise above its 200-day moving average for the first time since May as concerns eased that efforts by the Organization of Petroleum Exporting Countries and its allies to curb output will be offset by rising production elsewhere. Police in Venezuela clashed with demonstrators after a vote Sunday to elect members of a new legislative body that President Nicolas Maduro insisted is needed to restore order after months of protests. “Depending on how the Trump administration decides to proceed going forward, of course that could have implications,” including potentially blocking imports of Venezuelan crude, said Harry Tchilinguirian, a commodities analyst at BNP Paribas SA in London. “It’s very unclear at this stage what course the U.S. administration will follow.” Click Read More below for additional details.

American Dollar to Canadian Dollar = 0.765834; American Dollar to Chinese Yuan = 0.145746; American Dollar to Euro = 1.191712; American Dollar to Japanese Yen = 0.009505; American Dollar to Mexican Peso = 0.045742.

UPS has begun sending letters to about 105,000 package van drivers offering them voluntary severance packages worth $150,000, to resign, the company confirmed on Wednesday. A federal judge last week cleared the freight transportation giant to move ahead with buyout offers over objections from the Teamsters union. UPS (NYSE: UPS) has decided to reduce headcount by 30,000 this year as part of a network consolidation plan aimed at reducing costs and improving efficiency amid declining parcel volumes. During court arguments, Teamsters lawyers said the union expects up to 10,000 drivers to accept the company’s offer.