Oil Prices Rise Amid Ukraine, Venezuela Tensions

Oil prices ticked up this week, influenced by geopolitical tensions and supply concerns. The US and Venezuelas escalating situation, along with uncertainty around a Ukraine ceasefire, added risk premiums. Despite some demand, overall demand is expected to remain subdued, with supply outpacing it. Economists predict a downward trend for oil prices in the near future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.