Oil prices advanced on Tuesday in Asia as investors weighed renewed Sino-U.S. tension and sanctions against Venezuela’s state-owned oil company PDVSA.
Crude oil WTI futures were up 0.9% to $52.48 per barrel by 1:09 AM ET (6:09 GMT). Brent oil futures also gained 0.9% to $60.34 per barrel, Investing.com reported.
The U.S. President Donald Trump administration issued new sanctions on PDVSA yesterday that effectively blocked the regime of President Nicolas Maduro from exporting crude to the U.S. and pressured him to step aside for Juan Guaido, the opposition leader who proclaimed himself interim president last week.
