Oil Rises as U.S. Shutdown Ends While Venezuela Tensions Mount - Bloomberg

Oil Rises as U.S. Shutdown Ends While Venezuela Tensions Mount - Bloomberg:

Oil closed higher for the third day in a row as a deal to reopen the U.S. government eased investor fears while political turmoil in Venezuela roiled one of the world’s biggest suppliers of heavy crude.

Futures in New York rose 1.1 percent, gaining steam on reports President Donald Trump agreed to a three-week pause in the government shutdown to pursue border-security talks with Democrats. In Caracas, President Nicolas Maduro and Juan Guaido, the opposition leader, gave dueling speeches while the United Nations Security Council prepared to meet tomorrow on the crisis.

“There’s some optimism now that the government shutdown, at least temporarily, may be behind us," said Brian Kessens, who helps manage $16 billion in energy assets at Tortoise in Leawood, Kansas. “That’s got markets feeling a little bit better."