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Oil rises in London because of the tension in Venezuela



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Oil rose on Tuesday on the London market due to tensions in Venezuela and Saudi Minister following allegations that his country will increase production without exceeding the OPEC quota.

At 14:15 GMT Brent barrel for June delivery in London cost $ 72.75, up 71 cents from the close on Monday.

New York barrel WTI for the same period rose by 31 cents to 63.81 dollars rose.

A group of Venezuelan military emerged Tuesday against President Nicolas Maduro and Juan Guaidó support for the opposition, who called on all armed forces to join the movement, the government condemned as a coup attempt.

Venezuela with the & # 39; is a member of the Organization of Petroleum Exporting Countries (OPEC) and oil production has fallen sharply in recent years due to the political and economic crisis.

At the same time, Syria said it was ready to respond "to consumer demand," but "we are doing all this will leave OPEC, we will respect it," said Energy Minister Khaled Al-Faleh, Russian state agency Ria Novosti.

"Small attacks between Saudi Arabia and Trump are predictable, but the possibility of a coup in Venezuela is clearly more disturbing," said Edward Moya, an analyst at Oanda in London.

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