The crude oil prices rose on Wednesday, boosted by the announcement of donald trump of a “total lock“of the sanctioned oil tankers that arrive or leave the ports of Venezuela.
The price of Brent barrel of the North Sea, to delivery in Februaryrose 1.29%, to $59.68.
Its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery in januaryrose 1.21%, to $55.94.
“I order a total lock and complete of all sanctioned oil tankers that come and go Venezuela“wrote the American president on Tuesday on his Truth Social network.
Reactions of the market and expert analysis
Trump accuses the Venezuelan president, Nicolas Maduroto use the money of the oil to finance “narcoterrorism, human trafficking, murders and kidnappings.”
“This news (…) was enough to straighten out the market“, which had been declining for several days, he told AFP Robert Yawgerfrom Mizuho USA, who, however, considers that this is a “short-term” increase.
- This Trump measure has a limited scope in it market global, since “Venezuelans only produce around 900,000 barrels of crude oil per day,” says Yawger.
