ESPACIO PUBLICITARIO
CARACAS, Friday November 16, 2012 | Update
 
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OIL

Venezuelan oil basket falls to USD 95.86

The country's oil basket is down for the forth consecutive week. It slipped 0.5%

The average price of oil in 2012 is USD 104.24 per barrel (File photo)
EL UNIVERSAL
Friday November 16, 2012  02:40 PM
The Venezuelan oil basket dropped 0.5% by the end of this week, at USD 95.86 per barrel, the Ministry of Petroleum and Mining informed. This is the fourth consecutive week Venezuelan oil prices fall.

The average price of oil in 2012 is USD 104.24 per barrel.

The ministry explained, "Price performance of main oil baskets' was mixed this week amid geopolitical tensions in the Middle East and contradictory news on the global economy."

This week, the OPEC oil basket rebounded USD 1.04 and ended at USD 106.24 per barrel; Brent crude oil rose USD 1.65 reaching the USD 109.46 floor per barrel while the WTI suffered a USD 0.12 setback and ended at USD 85.76 per barrel.

With reporting by Ernesto J. Tovar
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The rock of discord

A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.

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