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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