Oil gains as U.S. imposes sanctions on Venezuela, global supplies weigh | Reuters:
Oil prices rose on Tuesday after Washington imposed sanctions on Venezuelan state-owned oil firm PDVSA in a move that may curb the OPEC member’s crude exports, but price rises were capped by ample global supply and signs of a slowing Asian economy.
International Brent crude oil futures were up 61 cents at $60.54 per barrel by 0941 GMT.
U.S. West Texas Intermediate (WTI) crude futures were up 48 cents at $52.47 per barrel.
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