Sunday , February 28 2021

Oil rises in a market that is alert to Venezuela

Oil prices rose on Wednesday on European stock markets, in a market alert for tensions in Venezuela and awaiting US reserve data.

Around 3:00 pm GMT, the Brent North Sea barrel for March delivery was worth $ 61.76 at the Intercontinental Exchange (ICE) in London, 44 cents more than on Tuesday at closing.

On the New York Mercantile Exchange (Nymex), the light sweet crude (WTI) barrel for the same delivery date earned 62 cents, up to $ 53.93 per hour after opening.

The US administration has taken several steps against PDVSA on Monday, sanctions that "result in a de facto US embargo on Venezuela's oil imports," analysts at Societe Generale said.

Parliamentary President Juan Guaidó, a self-proclaimed interim president, on Wednesday called for "more sanctions" from the European Union against the government of President Nicolas Maduro in an interview with the German newspaper Bild.

Source link