Oil ends sharply higher in New York



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NEW YORK, Jan 29 (Reuters) – Oil prices
ended more than 2% Tuesday in the New York market
Nymex, supported by the announcement of United States sanctions
against the oil company VNZULIAN PDVSA.

March contract on light oil (West Texas
Intermediate, WTI) earned $ 1.32, or 2.54%,
US $ 53.31 per barrel and North Sea Brent took
$ 1.39 or $ 2.32 per barrel.

Washington, seeking to pressure the president
Nicola Maduro, was not forbidding companies
to buy heavy vnzulan gross, but has
order to pay the proceeds to a blocked account in order to
prevent PDVSA from delivering its oil to
USA.

Exports of Venezuelan oil fell one
slightly less than one million barrels per day in 2018 compared to 1.6
million in 2018, according to data compiled by Refinitiv.

The country, a member of OPEC, is one of the
producers of heavy oil and the United States are its first
customer, with about 500,000 bpd imports, in front of India and
China

The market also benefited from the announcement of the closing of
Libya's main oil field, El Charara, which is occupied by a
arm group.
(Laila Kearney, Vronique Tison for the French service)

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