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The Commodities Feed: Geopolitical events have oil gyrating, gold rising
Oil prices had a choppy session yesterday with the market trying to digest the impact of the arrest of President Nicolas Maduro by the US. ICE Brent fell below US$60/bbl at one point during the trading session but settled 1.66% higher on the day at US$61.76/bbl. Developments over the weekend pose further downside risk to Venezuelan oil supply in the short term – and leave the potential for upside in the longer term. This would require significant investment in the domestic energy sector, which foreign companies may be reluctant to undertake unless there is a more attractive investment environment or some form of ... (full story)
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