Oil rises on fears of supply disruption as US-Venezuela tensions escalate

TOKYO, – Oil prices rose on Monday, recouping part of last week’s 4% slide, as concerns over potential disruptions from escalating U.S.-Venezuela tensions outweighed lingering oversupply worries and the effects of a potential Russia-Ukraine peace deal.

Brent crude futures rose 25 cents, or 0.4%, to $61.37 a barrel at 0055 GMT, and U.S. West Texas Intermediate crude was at $57.67 a barrel, up 23 cents, or 0.4%.