World Oil Prices Continue to Go Down
World oil prices continue to go down, with the WTI down to $ 23 a barrel - a price the market last saw on March 6, 2002.
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Oil prices rose on Tuesday. The reasons are the declining production in Venezuela and the statement of the US that they may impose sanctions on the country after the controversial elections which were on Sunday.
Futures on US crude oil for June delivery rose by 0.40% to 72.53 dollars per barrel. Brent (a sort of oil) increased by 0.30% to 79.46 dollars a barrel, and last week the $ 80 barrel price was passed for the first time since November 2014, reports Reuters.
Venezuelan Socialist President Nicholas Maduro won Sunday's election, though almost the entire international community has described the election as "farce" and "cheating."
The US is considering new sanctions against Venezuela that affect oil prices. In the country, production declined by one third over the past two years to its lowest level in decades.
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Walter Baier, the leading candidate of the European Left for the upcoming European elections, has expressed his dismay over Austria's stance on Bulgaria and Romania's entry into the Schengen zone
US Senator Lindsey Graham expressed confidence that Congress will soon approve an aid package for Ukraine, albeit likely in the form of a low-interest loan rather than grants.
The Israeli military conducted a large-scale operation at the Al-Shifa hospital complex in the Gaza Strip, resulting in the deaths of dozens of Palestinian fighters and the arrest of over 200 individuals
US Vice President Kamala Harris has denounced former President Donald Trump as a "threat" to democracy and fundamental freedoms, vowing to address key issues such as reproductive rights, voting rights, and gun violence
Turkish President Recep Erdogan has joined a chorus of world leaders in congratulating Vladimir Putin on his landslide victory in Russia's presidential election
Amidst growing pressure from farmers and member states, the European Union is poised to reverse tariffs on grain imports from Russia and Belarus
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