NPR

Oil Prices Edge Upward After U.S. Imposes Sanctions On Venezuela

The sanctions are meant to put pressure on Venezuelan President Nicolas Maduro, who allegedly diverts billions in oil profits to pay off military officers and help prop up his government.

Oil prices are up more than 2 percent after the U.S. imposed sanctions on Venezuela's state-run oil company known as PDVSA.

As of Tuesday night, International Brent crude oil futures had risen 2.32 percent to $61.32 a barrel, and U.S. West Texas Intermediate

You're reading a preview, sign up to read more.

More from NPR

NPR4 min readSociety
Hospitals Around The World Have A Dire Shortage Of Blood
The first global analysis of blood supply and demand finds that many developing countries are relying on risky emergency donations.
NPR6 min readPolitics
Mark Zuckerberg Offers A Choice: The Facebook Way Or The China Way
In prepared remarks to Congress, the CEO acknowledges Facebook is not "the ideal messenger" for its digital currency plan, but says innovation is essential to American financial leadership.
NPR4 min readScience
Itty-Bitty Satellites Take On Big-Time Science Missions
CubeSats are only about twice the size of a Rubik's Cube. Once dismissed as tools for students learning the principles of aerospace engineering, they're now being used for more sophisticated missions.