The Latest Breaking News from Oil

Move in US election year could push up oil prices, but Washington says Maduro has not made promised electoral reforms.

Oil prices stabilize after drop due to global demand concerns and Middle East tensions easing.

Rolling coverage of the latest economic and financial news

US reimposes oil sanctions on Venezuela amid doubts about upcoming elections, escalating tensions in the South American country.

US revokes Venezuela's oil export license, impacting economy and prompting search for new markets.

China increases crude oil storage capacity to secure energy reserves amidst global uncertainties.

Foreign minister warns of environmental catastrophe in Baltic Sea as he accuses Moscow of using unseaworthy vessels

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The United States said Wednesday it will snap back sanctions on Venezuela's crucial oil industry after President Nicolas Maduro's government continued its repression of opponents.

Authorities said the Maduro government has "fallen short" on moving toward free and fair elections

The United States is to snap back sanctions on Venezuela's crucial oil industry after President Nicolas Maduro's government continued its "repression" of opponents, US officials said Wednesday.