US Blockade on Venezuela Sends Oil Prices Soaring
Update: 2025-12-17
Description
Oil prices surge following US blockade on Venezuela, with Brent crude topping $60 and WTI nearing $55. The move, part of efforts to oust President Maduro, could remove 500,000 barrels per day from the market, potentially pushing prices higher. However, other producers like Saudi Arabia may fill the gap. OPECs production cuts extension and global economic uncertainty also impact oil prices.
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