LONDON (dpa-AFX) – Oil prices rose slightly on Thursday. The prices are once again supported by the worsening conflict between the USA and Venezuela. The price for a barrel (159 liters) of North Sea Brent for delivery in February rose to $60.15. That was 47 cents more than the day before. A barrel of U.S. WTI for delivery in January rose 57 cents to $56.51.
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The day before, US President Donald Trump linked the large US military presence off the Venezuelan coast with the South American country’s oil reserves. However, he did not mention this issue in his address to the nation on Thursday. Meanwhile, Venezuela has announced that despite the blockade of oil tankers off Venezuela announced by US President Trump, the country’s oil exports will continue as planned. Venezuela has requested an emergency meeting of the UN Security Council because of growing US pressure on the country.
The crude oil inventory figures published the day before did not have a lasting effect on oil prices. Inventories had fallen less than expected. Gasoline and distillate stocks, however, had increased.
Shortly before Christmas week, trading activity on the oil market was already declining, traders said. Trading in Brent futures is currently below average./jsl/men