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

Oil prices edged up on Thursday after sliding in the previous two sessions, with supply worries resurfacing after U.S. President Donald Trump announced a reversal of a license given to Chevron to operate in Venezuela.

The United States is rescinding a Treasury license allowing Chevron to produce and export oil from Venezuela, despite U.S. sanctions, President Donald Trump said Wednesday, because President Nicolás Maduro was not legitimately elected and has not accepted Venezuelans deported from this country fast enough.