💨 Abstract

Oil prices rose on Wednesday due to supply concerns from US sanctions on Venezuelan and Iranian oil exports, a larger-than-expected drop in US crude inventories, and a potential impact on Chinese purchases of Venezuelan oil. The US also imposed new sanctions on Iran's oil sales. Additionally, a decline in US crude inventories indicated healthy demand. However, the potential economic slowdown due to Trump's tariffs could limit price gains.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖