💨 Abstract

Oil prices rose on Wednesday due to concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude and a larger-than-expected drop in U.S. crude inventories. The trade of Venezuelan oil to top buyer China stalled after the U.S. threatened tariffs on countries buying from Caracas. The market was also buoyed by a decline in U.S. crude inventories.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖