Oil prices rallied by more than 1% on Wednesday after U.S. President Donald Trump ordered a blockade of all oil tankers under sanctions entering and leaving Venezuela, raising global political tensions and easing concerns about a swelling surplus of global crude.

Oil rose as geopolitical tensions continued to push prices higher.

NEW YORK (Reuters) -Oil prices rose over 2% on Friday as the International Energy Agency said the market was tighter than it appears, while U.S. tariffs and possible further sanctions on Russia were also in focus. Brent crude futures settled up $1.72, or 2 ...

A hoard of Venezuelan crude on tankers at sea will provide a cushion for Chinese refiners — the biggest buyers — should the US escalate hostilities against the OPEC producer and disrupt exports.

Oil prices settled more than 2% lower on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.

NEW YORK (Reuters) -Oil prices gained about 1% on Monday after the OPEC+ production increase planned for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains.

0910 GMT – Oil prices climb nearly 1% in early trading as reports of a Ukrainian drone strike on a major Russian export hub raise concerns over supply. Brent crude and WTI both rise 0.9% to $63.59 a barrel and $59.21 a barrel, respectively. “Overnight ...

Crude oil futures edged higher Friday and posted weekly gains for the first time in three weeks, with little sign of progress toward a peace deal to end the war in Ukraine and raising the potential for eventual stronger sanctions against Russia. Russia ...

(RTTNews) - Crude oil rebounded to post sharp gains on Monday as the likelihood of the U.S. getting involved in the ongoing Russia-Ukraine war triggered fresh concerns of military escalation as well as new sanction threats on Russian oil exports.

The United States carried out a large-scale strike on Venezuela, capturing its president, Nicolás Maduro, and flying him out of the country, President Trump said.