Oil prices rose slightly on Thursday on fears of tight global supply after U.S. threats to impose tariffs on buyers of Venezuelan oil and previous sanctions on buyers of Iranian oil. Traders are assessing the impact of US President Donald Trump's tariffs on cars.
Brent crude futures rose nine cents, or 0.12 percent, to $73.87 a barrel. U.S. West Texas Intermediate crude futures rose 10 cents, or 0.1 percent, to $69.75 a barrel.
Prices rose about 1 percent on Wednesday on the back of government data showing a drop in U.S. crude and fuel inventories last week and a U.S. threat to impose tariffs on countries that buy Venezuelan oil.
Source (CNBC Arabia Website, Edited)
