Oil rises over 1% as Trump's Venezuela blockade stokes uncertainty
New York Post·2025-12-17 08:22
Oil prices rose more than 1% on Wednesday after President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela, raising fresh geopolitical tensions at a time of concerns over demand.Brent crude futures were up 79 cents, or 1.3%, at $59.71 a barrel at 0500 GMT, while US West Texas Intermediate crude rose 77 cents, or 1.4%, to $56.04 a barrel.Oil prices settled near five-year lows in the previous session on progress in Russia-Ukraine peace talks, as ...