US Blockade on Venezuela, Oil Prices Surge
Update: 2025-12-17
Description
U.S. Blocks Venezuelan Oil, Sending Prices Soaring: The U.S. Presidents decision to block Venezuelas oil exports has caused a surge in global oil prices, with Brent crude reaching over sixty dollars a barrel and West Texas Intermediate climbing to nearly fifty-five dollars. This move, part of a series aimed at removing President Maduro, could remove up to five hundred thousand barrels from the market daily, potentially pushing prices even higher. However, other producers like Saudi Arabia may step in to fill the gap. Meanwhile, expectations of OPEC extending production cuts could further tighten supply.
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