Venezuelan oil basket up USD 106.99

In a week it shot up USD 2.07, according to data supplied by the ministry

Venezuelan crude oil basket averages USD 103.20 per barrel

EL UNIVERSAL

Friday February 08, 2013 12:03 PM

The Ministry of Petroleum and Mining disclosed that the Venezuelan oil basket ended this week at USD 106.99 per barrel. Based on data posted by the ministry on its website, the barrel edged USD 2.07 higher.

Last week rebound stood for USD 1.97%, as in the previous week, the Venezuelan oil basket was traded at USD 104.92 per barrel.

"The prices of most crude oils ended the week upwards mainly due to optimism as to the performance of the global economy and geopolitical strained situation in the Middle East," the ministry broke down.

Thus far this year, the Venezuelan crude oil basket averages USD 103.20 per barrel.

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