Oil Pares Losses Amid Venezuela Protests

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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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.