Business
Why Oil Price Moves Are Muted After Maduro’s Ouster
Oil futures slipped after the U.S. ousted Venezuelan strongman Nicolás Maduro, and President Trump pledged to dispatch American drillers to revive the country’s crude output.
Brent crude futures—the international oil benchmark—dropped 1%, to roughly $60 a barrel early Monday.
WTI crude futures—the U.S. benchmark—shed around 1%, trading at about $56.60.
Significant obstacles remain before Venezuelan oil flows more freely into global markets. There is unlikely to be a notable increase in exports until sanctions are eased, and even then, analysts say it will take years and vast sums to boost Venezuelan output back to its peak.
Continue Reading
