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Oil Rises as Venezuela Sanctions Stoke Crude Supply Risk Concern [Bloomberg Business News]

CME GROUP (CME)  More Company Research Source: Bloomberg Business News
Last cme group earnings: 7/26 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
PDF Oil extended gains as a new wave of U.S. sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles. Futures in New York added as much as 0.4 percent after U.S. President Donald Trump ordered sanctions on debt owed to Venezuela after the Latin American country’s President, Nicolas Maduro, won a second term in an election that raised scorn from the international community. Meanwhile, crude inventories in the U.S. are forecast to fall for a third week in a Bloomberg survey before government data due Wednesday. Oil is trading near the highest level since 2014 as geopolitical tensions, U.S. sanctions on Iran and plunging production in OPEC-producer Venezuela raise concerns over supply. The Organization of Petroleum Exporting Countries continues to tighten global inventories with output cuts due to last until the end of the year. The International Energy Agency said it expects some of th [Read more]

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