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Oil prices rise following Venezuela's sanctions

  • Regular
  • Economy
  • 2 weeks ago
  • 25

Oil has climbed by 1% as investors digest the sanctions handed to Venezuela by the U.S.A. which would essentially disrupt the global supply figures.

WTI crude futures rose by $0.52 to $53.83 per barrel while International Brent crude also climbed by $0.61 cents to $61.93 per barrel.

Although Venezuelan President Maduro has welcomed talks with the opposition party he has ruled out any possibilities of a snap election.

Whether that eases the tensions with Washington it is yet to be seen.

 

Source: Smart Trend Team