Oil prices edge up on Venezuela, Iran supply worries
Tuesday,
22-May-2018
09:14 AM (IST)
Oil prices rose on Tuesday on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.The United States also toughened its stance on Iran and made a list of sweeping demands, which could further curb the country's crude oil exports and boost oil prices. Brent crude futures were at $79.39 per barrel, up 17 cents, or 0.2 percent, from their last close. Brent broke through $80 for the first time since November 2014 last week.U.S. West Texas Intermediate crude futures were at $72.47 a barrel, up 23 cents, or 0.3 percent.
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