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International Oil Prices Rose On The 10th, Closed At $71.36 A Barrel In New York Market
May 11, 2018

The market worried about geopolitical influence on crude oil supply. International oil prices rose on the 10th.

The production of crude oil in Venezuela continues to decrease. A report released by the French bank Societe Generale predicts that by December of this year, Venezuela’s crude oil output will drop to 1 million barrels per day, which is much lower than the 1.61 million barrels in January this year.

In addition, investors continue to digest the US decision to withdraw from the Iranian nuclear agreement. Market analysts worry that if the United States imposes new sanctions on Iran, the global crude oil supply may be reduced, thereby pushing up international oil prices.

By the end of the closing day, the New York Mercantile Exchange   The futures price of light crude oil delivering in June rose by $ 1.11 and closed at $ 71.36 a barrel with an increase of 0.31%. The futures price of London Brent crude oil delivering in July rose by $ 0.26 and closed at $ 77.47 a barrel with an increase of 0.34%.

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