U.S. Threats To Venezuela Cause Oil Prices To Rise – 24 January, 2019

Hints that Washington may impose sanctions on Venezuela’s crude exports caused oil prices to climb over one percent. U.S. West Texas Intermediate crude futures rose 77 cents and 1.5 percent to $53.90 per barrel, while International benchmark Brent crude oil futures rose 80 cents and 1.3 percent to $61.89 per barrel. The sure in U.S. supply may be able to offset short term disruptions that could continue to come while Venezuela works through its current political situation.