Oil prices dipped on Wednesday after a report showed a rise in available U.S. cr...
SINGAPORE - Oil prices dipped on Wednesday after a report showed a rise in available U.S. crude inventories, but the market remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions on Iran and continuing OPEC supply cuts.
U.S. West Texas Intermediate crude futures were down 51 cents, or 0.8 percent, at $63.49 per barrel. However, focus was shifting to the crisis in major oil producer Venezuela, where there appears to be a standoff between incumbent President Nicolas Maduro and opposition leader Juan Guaido. Many observers fear this could lead to large-scale violence, as well as disruptions to crude supply.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi, UAE overstate their oil capacities: Iran oil ministerIranian Oil Minister Bijan Zanganeh said Saudi Arabia and the United Arab Emirat...
Read more »
Russia says contaminated oil may be mixed with clean oil to resolve the issueRussian Deputy Energy Minister Pavel Sorokin said on Friday after talks on conta...
Read more »
Oil dips as supply adequate despite Iran sanctions, but market tighteningOil prices fell on Wednesday amid signs that global markets remain adequately su...
Read more »
Occidental offers $57 billion for Anadarko, topping ChevronOil and gas producer Occidental Petroleum Corp on Wednesday made a $57 billion b...
Read more »
Oil falls from 6-month high on signs market not as tight as fearedOil prices fell on Wednesday after a report allayed concerns about tightening su...
Read more »
Occidental offers $38 billion for Anadarko, topping ChevronOil and gas producer Occidental Petroleum Corp on Wednesday started the first ta...
Read more »
Anadarko confirms Occidental's $57 billion bidOil and gas producer Anadarko Petroleum Corp on Wednesday confirmed Occidental P...
Read more »
Venezuela's PDVSA says oilfield power generator activated after blackoutsVenezuela's state-run oil company PDVSA on Wednesday said it had activated ...
Read more »
What Venezuela’s unrest means for gas prices in AmericaU.S. oil refiners, once highly dependent on oil imports from Venezuela, have had to adjust and find their oil elsewhere.
Read more »
Oil dips on soaring U.S. supply, but Iran sanctions still support crudeOil prices dipped on Thursday as record U.S. output and rising crude stockpiles ...
Read more »
Oil prices fall as soaring U.S. supply offsets tighter Iran sanctionsOil prices fell on Thursday as record U.S. output and rising crude stockpiles da...
Read more »