Reported 27 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