Advertisement
New Zealand markets close in 6 hours 52 minutes
  • NZX 50

    11,699.79
    -28.31 (-0.24%)
     
  • NZD/USD

    0.6138
    +0.0016 (+0.26%)
     
  • ALL ORDS

    8,082.30
    -67.80 (-0.83%)
     
  • OIL

    80.00
    -0.06 (-0.07%)
     
  • GOLD

    2,419.80
    +2.40 (+0.10%)
     

Oil Markets Are on Edge Over Iran and Venezuela Sanctions. What Comes Next.

Oil Markets Are on Edge Over Iran and Venezuela Sanctions. What Comes Next.

Oil prices have been rising in recent weeks, but they’d probably be significantly higher were it not for production from two countries that have dicey relationships with the U.S.—Venezuela and Iran. New political developments, however, might curb some of those supplies, potentially causing oil and gasoline prices to climb further. International crude oil prices are up 13% this year, to $87.29 per barrel.