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Caspian Energy Journal Caspian European Club
Friday, 25 January 2019 15:00

Oil prices climb

Oil prices climb

Oil prices rose on Friday as turmoil in Venezuela triggered concerns that its crude exports could soon be disrupted, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Washington on Thursday signalled it could impose sanctions on Venezuela’s oil exports as Caracas descends further into political and economic turmoil.

Brent crude oil futures were at $61.62 a barrel, 53 cents, or 0.9 percent, above their last close. At one point earlier on Friday, the international benchmark crude rose as high as $61.92 a barrel.

Brent, however, has shed about 1.8 percent this week and was on track to post its first week of losses in four weeks.

U.S. West Texas Intermediate (WTI) crude futures were at $53.70 per barrel, up 57 cents, or 1.1 percent.

More details: https://in.reuters.com/article/global-oil/oil-prices-rise-1-percent-as-u-s-threatens-sanctions-against-venezuela-idINKCN1PJ085

Person in charge of the newsline: Olga Nagiyeva 

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