Oil prices rise for fifth straight day on supply fears after Trump's tariffs on Venezuela 🇻🇪
#Oil prices rose for a fifth straight day on Tuesday on expectations that global #supply will shrink after the United States announced #tariffs on countries that buy Venezuelan #crude or #gas, even as #OPEC+ plans to go ahead with an output increase in May capped gains. Brent crude futures were up 46 cents, or 0.6%, at $73.46 a #barrel by 1023 GMT. U.S. West Texas Intermediate crude was up 46 cents, or 0.7%, at $69.57. Both benchmarks rose more than 1% on Monday after the #Trump administration announced the 25% tariff on countries importing #Venezuelan oil and gas, oil being Venezuela's main #export commodity and #China, already subject to US tariffs, being its largest buyer.
https://www.reuters.com/business/energy/oil-prices-little-changed-investors-weigh-impact-trump-tariffs-2025-03-25/