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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


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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