The price of oil rose sharply by 1% due to sanctions against Venezuela

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The price of oil on Tuesday 29 January to 15.32 MSK increased by 1% to 60.41 per barrel for Brent. “Black gold” after yesterday’s failure is returned to the psychologically important level of 60 dollars per barrel and trying to strengthen it. Support comes from news related to the situation in Venezuela.
The United States blocked all assets and interests of the Venezuelan state oil company PDVSA in its jurisdiction, and forbade transactions with them. A total of blocked assets at $ 7 billion, 11 billion dollars will make the losses from declining oil supplies, appreciated in the administration of the American President.
However, the oil is simply returned at around $ 60, and put it down and consolidate above is in no hurry. The increased production in the United States to a record of nearly 12 million barrels of oil per day is a limiting factor in the growth of the market of “black gold”.
The pair Euro-dollar remained stable on forex. Market players prefer to refrain from active operations in anticipation of the decision of the U.S. Federal reserve’s monetary policy (DCT), which is expected on Wednesday evening. Analysts expect the base interest rate unchanged at 2.25-2.5% per annum. The financial regulator may give a signal to suspend the tightening of the OST on the background of the slowdown of the world economy.
To 15.34 GMT, the Euro hovered around 1,1426 dollar vs last fixing at the level of 1,1427 dollar.
Ivan Marchena,
GK Forex Club