Top energy trader hails Trump's Venezuela oil deal as a 'generational win' for gas prices

President Donald Trump's newly announced deal to secure majority U.S. control of more than 65 billion barrels of Venezuelan oil reserves marks a "generational win" that could lower gas prices for American families, according to oil trader Phil Flynn.

Speaking on " Fox & Friends Weekend," Flynn praised the deal, arguing it could lower prices for years and that U.S. technology could transform Venezuela's oil industry.

"I think this is a win.

It's a generational win for Americans because it is [going to] lead to a generation of low prices," Flynn told host Kayleigh McEnany.

TRUMP 'SERIOUSLY CONSIDERING' PLAN TO MAKE VENEZUELA AND ITS $40 TRILLION IN OIL PERMANENT PART OF USA "And it's a win for the people of Venezuela as well because the United States has the technology and the people to develop those oil fields unlike anything Venezuela has been ever able to do in history," he added.

The president announced the agreement on Truth Social on Friday.

"The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" Trump wrote.

TRUMP’S ENERGY INITIATIVES MAY FINALLY EXTRACT AMERICA FROM MIDEAST CHAOS Trump said the deal was struck at his direction by Secretary of State Marco Rubio and Secretary of War Pete Hegseth, working with Venezuelan interim President Delcy Rodriguez.

Trump said the U.S., "through a partnership with private business," secured majority control of more than 65 billion barrels of proven Venezuelan oil reserves "at no cost to the American Taxpayer." "This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity," he continued.

ENERGY SECRETARY WRIGHT SAYS TRUMP ADMINISTRATION OPEN TO SUSPENDING FEDERAL GAS TAX AMID PRICE SURGE Flynn echoed that sentiment, arguing that the move eases long-standing concerns about depleted U.S. oil reserves .

"A lot of people are worried about us drawing down our Strategic Petroleum Reserve," Flynn said.

"Now we have the biggest strategic petroleum reserve in history.

It's called Venezuela." Rubio praised the agreement on X, calling it a "huge win" for both countries that "demonstrates how President Trump's bold foreign policy is driving America First wins: securing stable reserves and low-cost oil in our Hemisphere and lowering gas prices here at home." TRUMP ECONOMIST POINTS TO 'GREAT SIGNS' OF EASING INFLATION, PREDICTS FUEL COSTS WILL 'PLUMMET' WITH IRAN DEAL While Trump and Rubio say the deal will lower prices over the long term, Flynn cautioned that Americans should not expect immediate relief at the pump.