Oil jumps 1.5% as Trump’s Venezuela blockade stokes uncertainty
Oil prices rose more than 1% on Wednesday after U.S. President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela, raising fresh geopolitical tensions at a time of concerns over demand.
Brent crude futures were up 87 cents, or 1.5%, at $59.79 a barrel at 0730 GMT, while U.S. West Texas Intermediate crude rose 85 cents, or 1.5%, to $56.12 a barrel.
