The U.S. Energy Information Administration (EIA) on Wednesday said U.S. crude oil stockpiles rose less than expected last week due to lower imports, notably a fall in Saudi crude supply. WTI Crude is $54.34; Brent is $62.11 this morning.
World oil futures rose by more than 2 percent on Tuesday, but the market has not seen panicked buying as a result of the U.S. decision to target Venezuela’s oil output. WTI is Crude is $53.68; Brent is $61.83this morning.
Monday, the U.S. imposed broad sanctions on Venezuela's state-owned oil firm PDVSA, to curb the OPEC member’s crude exports to the United States and apply pressure on socialist President Maduro to step down. WTI Crude is $52.45; Brent is $60.47.
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