27 April 2024
Pricewatch – Oil hits two-month high amid talk of Venezuela sanctions
Publication date: 31 July 2017
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
Crude traders have reacted to talk of possible US sanctions against Venezuelan oil sector, leaving international benchmarks West Texas Intermediate and Brent at two-month highs at the end of last week.
The latest move contributed to a five-day rally also spurred on by falling US stockpile levels and a flattening rig count, which left WTI and Brent around USD 49.50/barrel and USD 52.50/barrel on Friday. Prices were more or less unmoved as of Monday morning.
Although no official word has emerged from the White House ...