Oil rises amid hope virus effects on global economy will be brief
US throttling of Venezualan supply through sanctions on Russia’s Rosneft buoys prices
19 February 2020 - 08:12
Tokyo — Oil prices gained 1% on Wednesday, with Brent rising a seventh straight day, amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a US move to cut more Venezuelan crude from the market.
Brent crude was up by 59c, or 1%, at $58.34 a barrel by 0439 GMT, while US oil was up 55c, or 1.1%, at $52.60 a barrel...
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