US stops tanker near Venezuela: Oil prices rise

On Tuesday, oil prices rose as the US stopped a tanker near the coast of Venezuela. This created uncertainty in oil supply. Brent oil reached $60.93, and US West Texas Intermediate (WTI) was $56.98.

Analysts link the rise to the US taking a hard stance on Venezuelan oil trade and the Russia-Ukraine conflict. These events support the oil market.

The US Coast Guard is tracking another tanker near Venezuela. If successful, this would be the third operation in the last two weeks. Last week, Brent and WTI prices fell about 1%.

Oil prices are also affected by a Ukrainian drone strike on a Russian ship and talks between the US, Europe, and Ukraine. Experts say these events could shift the oil market balance upward.

Oqiljon Muhammad

Editor of «ZAMIN.UZ»