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Oil grows due to tension in Venezuela



Oil prices rose on Thursday due to tensions in Venezuela and despite worsening global economic outlooks.

At about 3:00 pm GMT, the Brent barrel in the North Sea for delivery in March, quoted for the last day, cost $ 62.15 on the Intercontinental Exchange (ICE) in London, which is 50 cents more than Wednesday at the close.

On the New York Mercantile Exchange (Nymex), a barrel of “light sweet oil” (WTI) added 88 cents on the same delivery date, reaching $ 55.11, its highest level in two months.

US sanctions, announced on Monday against the national oil company PDVSA, stir up investors' concerns about oil supply.

"In addition to the crisis in Venezuela, the growth is caused by data on US stocks," – added analysts at Commerzbank.

During the week ending January 25, commercial oil reserves increased by 900,000 barrels to 445.9 million barrels, which is less than the 3.15 million barrels expected by analysts polled by Bloomberg.


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