Oil prices climbed for the first time in three days on Thursday, 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.

The move, set to take effect March 1, comes as the Trump administration resets foreign relation policies stretching back decades.