# Oil prices up two percent following U.S. sanctions on Venezuela

> Brent rose $1.39 to $61.32 and WTI gained $1.32 to $53.31 after the U.S. imposed sanctions on PDVSA. The restrictions require Venezuelan sale proceeds go into blocked accounts, which discourages shipments to the U.S.

- Date: 2019-01-29 · published 2019-01-29T12:00:00.000Z
- Category: geopolitics · region Venezuela · magnitude medium
- Page: https://feedsoft.ai/events/61243-oil-prices-up-two-percent-following-u-s-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

Proceeds being blocked should deter PDVSA crude flows to the U.S., and refiners may need to pay more for replacement heavy crude from Saudi Arabia or elsewhere. That supports crude prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-29 | [Oil prices rise as US imposes sanctions on Venezuela](https://feedsoft.ai/events/61242-oil-prices-rise-as-us-imposes-sanctions-on-venezuela.md) | +5.2% | +6.8% |
| WTI | 2025-10-23 | [Oil markets rally following US sanctions on Russian oil giants](https://feedsoft.ai/events/10176-oil-markets-rally-following-us-sanctions-on-russian-oil-giants.md) | +3.3% | +1.6% |
| 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 | 2019-01-28 | [Treasury to sanction Venezuela state-owned oil firm](https://feedsoft.ai/events/61245-treasury-to-sanction-venezuela-state-owned-oil-firm.md) | +3.2% | +6.6% |
| WTI | 2023-10-09 | [Oil prices rise following Hamas attack on Israel](https://feedsoft.ai/events/9280-oil-prices-rise-following-hamas-attack-on-israel.md) | +5.9% | -2.2% |
| BRENT | 2019-01-29 | [Oil prices rise as US imposes sanctions on Venezuela](https://feedsoft.ai/events/61242-oil-prices-rise-as-us-imposes-sanctions-on-venezuela.md) | +4.3% | +7.6% |
| BRENT | 2025-10-23 | [Oil markets rally following US sanctions on Russian oil giants](https://feedsoft.ai/events/10176-oil-markets-rally-following-us-sanctions-on-russian-oil-giants.md) | +4.1% | +1.9% |
| 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

- business-standard.com: https://www.business-standard.com/article/reuters/oil-prices-up-two-percent-following-u-s-sanctions-on-venezuela-119013000075_1.html

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