Oil prices stabilized thanks to hopes that the US would ease sanctions on Venezuela

EXCHANGE TRADING KNOWLEDGE
Nguyễn Thành Lợi

Oil prices stabilized on Tuesday after falling more than $1 on Monday. US crude oil is currently trading around 86.95 USD/barrel, down about 0.1%. Markets expect the US will ease sanctions on oil-producing Venezuela and Washington is stepping up efforts to prevent the Palestinian-Israeli conflict from escalating.

Multiple sources said Monday that the Venezuelan government and opposition plan to resume long-stalled talks on Tuesday; President Maduro said this would benefit the 2024 election, a move that could prompt Washington to ease sanctions.

Oil prices rose sharply last week on fears the conflict in the Middle East could widen, with Brent crude rising 7.5%, its biggest weekly gain since February.

Copyright reserved to the author

Last updated: 10/17/2023 10:13

Upvote
Comment
Add
Original
Related questions
About Us User AgreementPrivacy PolicyRisk DisclosurePartner Program AgreementCommunity Guidelines Help Center Feedback
App Store Android

Risk Disclosure

Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. Opinions, market data, recommendations or any other content is subject to change at any time without notice. Trading.live shall not be liable for any loss or damage which may arise directly or indirectly from use of or reliance on such information.

© 2024 Tradinglive Limited. All Rights Reserved.