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Barchart
Barchart
Rich Asplund

Crude Prices Move Higher on Venezuelan Geopolitical Risks

Oil Venezuela United States OPEC Russia

December WTI crude oil (CLZ25) on Friday closed up +0.41 (+0.68%), and December RBOB gasoline (RBZ25) closed up +0.0082 (+0.43%).

Crude oil and gasoline prices moved higher on Friday, with gasoline posting a 1-month high.   Crude prices rose on Friday on reports that the US plans military strikes on OPEC producer Venezuela.  Crude also has carryover support from Thursday, when President Trump and President Xi Jinping agreed to extend a tariff truce, which is supportive for economic growth and energy demand.

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