💨 Abstract

Oil prices decreased on Tuesday due to a truce between Ukraine and Russia regarding the Black Sea and energy infrastructure. However, prices increased due to potential supply constraints from threatened US tariffs on countries purchasing Venezuelan oil. The truce, announced by Ukrainian President Volodymyr Zelenskiy, includes a ban on attacks on each other's energy facilities. The US has threatened tariffs against countries importing oil and gas from Venezuela, raising supply concerns.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖