Oil Prices Rise Amid Ongoing Concern about Venezuela

FILE PHOTO. Credit: Gerhard Traschütz

(From UPI)

Crude oil prices rose Wednesday amid expectations that Venezuelan oil shipments would see some disruption following U.S. sanctions, while traders awaited news later in the day regarding recent U.S. inventory levels and possible interest rate changes. . . .

“Recent sanctions in Venezuela have market participants positioning for a higher price environment,” Amir Hekmati, oil futures spec trader at Lucid Energy, told UPI.

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