Oil Prices Rise Amid Supply Concerns

Reported 3 days ago

Oil prices increased during early Asian trading due to worries about tighter supplies. This followed U.S. President Trump’s threat to impose tariffs on countries importing Venezuelan oil and a larger-than-expected decline in U.S. crude inventories. Brent crude rose to $73.27 a barrel and West Texas Intermediate to $69.28 a barrel. Trump's executive order could impact production significantly, particularly affecting Chevron's operations in Venezuela. Although prices are climbing, restrictions related to U.S.-Russian dealings may limit further increases.

Source: YAHOO

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