CARACAS, Friday November 23, 2012 | Update

Venezuelan oil basket rebounds; ends at USD 97.15

Venezuelan oil price climbed (1.34%) after reporting negative results over the last four weeks

Prices increased by USD 1.29 this week (File photo)
Friday November 23, 2012  03:25 PM
Venezuela's oil basket ended on Friday at USD 97.15 per barrel, the Ministry of Petroleum and Mining informed through its Twitter account.

The oil basket rebounded USD 1.29 (1.34%) with respect to last week (USD 95.86 per barrel), after reporting negative results over the last four weeks.

The ministry added that oil prices hiked amid lingering concerns early this week over tensions in the Middle East hitting oil supply, and a sudden fall in US oil stocks.

Venezuela's average oil price so far this year hit USD 104.09 per barrel.

With reporting by Ender Marcano
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.

fotter Estampas
fotter Estampas