iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

US Sanctions on Venezuela Send Oil Prices Upward

18 Apr 2024 , 10:58 AM

Early on Thursday, oil prices increased, reversing some of the losses from the previous session when the US announced it would reimpose oil sanctions on Venezuela and the EU mentioned new measures against Iran.

U.S. oil futures were trading 2 cents higher at $82.71 a barrel, while Brent futures were up 10 cents, or 0.11%, at $87.39 a barrel. Due to concerns about demand, the two benchmarks fell 3% over the prior session.

In response to President Nicolas Maduro's failure to fulfil his election-related obligations, the United States said that it would not extend a licence that was scheduled to expire on Thursday and that had significantly loosened oil sanctions against Venezuela.

After Tehran attacked Israel with missiles and drones, there was still uncertainty about how Israel would respond. Leaders of the European Union resolved on Wednesday to intensify sanctions against Iran in an effort to stop the dispute from getting worse.

On Saturday, the U.S. House of Representatives will vote on aid packages worth over $95 billion that will offer security assistance to Israel, Ukraine, and the Indo-Pacific region. Of those packages, $61 billion will be used to resolve the war in Ukraine.

In an effort to contain the oil market, a Federal Reserve survey released on Wednesday revealed that businesses indicated they expect inflation pressures to remain stable and that U.S. economic activity increased marginally from late February to early April. That maintained the current patterns that have prevented interest rate cuts by the central bank.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • crude oil
  • Middle East
  • US
  • Venezuela
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.