Oil stable as economic outlook weighs, Venezuela concerns support
Updated : January 30, 2019 08:01 AM IST
US West Texas Intermediate (WTI) crude futures were at $53.28 per barrel at 0111 GMT, 3 cents below their last settlement. International Brent crude oil futures were 1 cent above their last close, at $61.33 per barrel.
This followed a 2-percent price jump the previous session, when markets first digested the US sanctions on Venezuela's oil exports.
Washington on Monday announced export sanctions against Venezuela's state-owned oil firm PDVSA, limiting transactions between US companies that do business with Venezuela through purchases of crude oil and sales of refined products.
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