Oil prices rose around 1 percent on Tuesday after the United States sanctioned Venezuela's state-owned oil company, in an effort to pressure President Nicolas Maduro to cede power to rival Juan Guaidó.
The sanctions against Petroleos de Venezuela, S.A. -- the parent company of the US-based Citgo oil company - would result in more than $11 billion in lost assets over the next year, national security adviser John Bolton said.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.