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Oil prices firm with Brent nearing $80 on supply worries

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Reuters  |  SINGAPORE 

By Jessica JaganathanSINGAPORE (Reuters) - Oil prices rose on Tuesday, with Brent edging closer to $80 per barrel, on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member. The United States also toughened its stance on Iran and made a list of sweeping demands, which could further curb the country's crude oil exports and boost oil prices. Brent crude futures were at $79.37 per barrel at 0632 GMT, up 15 cents, or 0.2 percent, from their last close. Brent broke through $80 for the first time since ...

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First Published: Tue, May 22 2018. 12:08 IST