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Oil Prices Bounce as U.S. Intensifies Sanctions on Venezuela


Tuesday, 6 August 2019 19:31 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices bounced slightly higher on Tuesday after the U.S. upped sanctions on Venezuela, offering some distraction from ongoing trade tensions which sent U.S. crude down 1.7% a day earlier.

New York-traded West Texas Intermediate crude futures gained 36 cents, or 0.7%, to $55.05 a barrel by 7:52 AM ET (11:52 GMT), while Brent crude futures, the benchmark for oil prices outside the U.S., rose 17 cents, or 0.3%, to $59.98.

U.S. President Donald Trump signed an executive order late Monday to declare a total economic embargo against Venezuela, freezing all of the government’s assets and prohibiting transactions with the country, unless specifically exempted.

Source : Investing.com


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