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U.S. eases sanctions on Venezuela Crude oil futures closed lower on May 17

 Last Update: 2023-02-23
 Source: Internet
 Author: User

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In the early morning of May 18, Beijing time, crude oil futures prices closed down
on Tuesday (May 17).
The U.
S.
partially eased some sanctions on Venezuela, sending crude oil futures back from their
highest level since the end of March.

West Texas Intermediate crude (WTI) futures delivered on the New York Mercantile Exchange in June fell $1.
80, or 1.
6 percent, to close at $
112.
40 a barrel.

Brent crude oil futures on the European Intercontinental Exchange, which serves as the benchmark for global crude oil prices, fell $2.
31, or 2%, to close at $
111.
93 per barrel.

According to news reports, the Biden administration is easing certain sanctions against Venezuela to facilitate the resumption of negotiations
with the Maduro government.
The news put downward pressure
on crude oil prices.

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