Venezuelan oil soars to USD 97.27
It gained USD 4.50 during the week, according to the Ministry of Petroleum and Mining
Venezuelan oil prices surged by USD 4.5 (4.8%) in the week of July 16-20, ending at an average of USD 97.27 per barrel, the Ministry of Petroleum and Mining reported. The yearly average price thus far is USD 106.43 per barrel.
"The release at the beginning of this week of favorable economic data in China and the United States, in addition to the geopolitical strain in the Middle East and the upturn of the euro versus the US dollar, were the main factors behind the hikes recorded in the period," the Ministry of Petroleum and Mining elaborated.
The oil basket of the Organization of Petroleum Exporting Countries (OPEC) leapt to USD 101.15 per barrel, whereas the WTI jumped to USD 89.46 and the Brent to USD 104.55.
With reporting by Ernesto J. Tovar
Luis Jiménez Alfaro seems to have hidden under the rocks. The last time he was seen was on April 2006 walking calmly around Simón Bolívar International Airport of Maiquetía, located nearby Caracas. At that time, more than five tons of cocaine arrived in Mexico in an airplane which took off from Venezuela, and his name featured as a missing piece of the puzzle of one of the most massive drug shipments that has been witnessed in the Western Hemisphere.