# Oil prices rise as US imposes sanctions on Venezuela

> Oil settled up about 2.5% after Washington sanctioned Venezuelan state oil company PDVSA, which may curb Venezuelan crude exports. WTI settled at $53.31 and Brent near $61.32.

- Date: 2019-01-29 · published 2019-01-29T12:00:00.000Z
- Category: geopolitics · region Venezuela · magnitude medium
- Page: https://feedsoft.ai/events/61242-oil-prices-rise-as-us-imposes-sanctions-on-venezuela
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Venezuela's heavy crude exports to the U.S. are at risk, which could tighten heavy-crude supply to Gulf refiners and lift crude prices. Ample global supply and China's slowdown are limiting the upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-29 | [Oil prices up two percent following U.S. sanctions on Venezuela](https://feedsoft.ai/events/61243-oil-prices-up-two-percent-following-u-s-sanctions-on-venezuela.md) | +5.2% | +6.8% |
| WTI | 2018-09-14 | [Oil prices rise ahead of deadline for US sanctions on Iran \| The National](https://feedsoft.ai/events/63206-oil-prices-rise-ahead-of-deadline-for-us-sanctions-on-iran-the-national.md) | +3.2% | +3.5% |
| WTI | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.8% | +6.7% |
| WTI | 2025-10-31 | [Crude Prices Rise on Geopolitical Risks in Venezuela](https://feedsoft.ai/events/22563-crude-prices-rise-on-geopolitical-risks-in-venezuela.md) | -1.8% | -4.1% |
| WTI | 2025-01-10 | [Oil prices rally 3% as US hits Russian oil with tougher sanctions](https://feedsoft.ai/events/10352-oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions.md) | +7.0% | -3.7% |
| BRENT | 2019-01-29 | [Oil prices up two percent following U.S. sanctions on Venezuela](https://feedsoft.ai/events/61243-oil-prices-up-two-percent-following-u-s-sanctions-on-venezuela.md) | +4.3% | +7.6% |
| BRENT | 2018-09-14 | [Oil prices rise ahead of deadline for US sanctions on Iran \| The National](https://feedsoft.ai/events/63206-oil-prices-rise-ahead-of-deadline-for-us-sanctions-on-iran-the-national.md) | +1.2% | +3.7% |
| BRENT | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.0% | +6.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/01/29/oil-markets-us-sanctions-on-venezuela-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.