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Oil Pares Losses Amid Venezuela Protests

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Oil prices rose on Thursday, lifted by concerns over Venezuela’s stability as well as by firm demand in Asia, although doubts over OPEC’s ability to organize a coordinated production cut still weighed on markets.

International Brent crude oil futures were trading at $50.16 per barrel at 0620 GMT (2:20 a.m. ET) on Thursday, up 18 cents, or 0.36 percent, from their last close.

WTI futures were at $49.33 per barrel, up 15 cents, or 0.31 percent, from their previous settlement.

Reuters

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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