ESPACIO PUBLICITARIO
CARACAS, Friday November 09, 2012 | Update
 
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HYDROCARBONS

Oil basket shrinks USD 1.18 in a week

Venezuelan oil basket closed at USD 96.38 per barrel this week

Ministry of Petroleum and Mining reported drop in Venezuelan oil basket price (File photo)
EL UNIVERSAL
Friday November 09, 2012  01:24 PM

Venezuelan oil basket closed at USD 96.38 per barrel this week, slipping USD 1.18, Venezuela's Ministry of Petroleum and Mining reported.

"This week, crude oil prices were impacted by persistent uncertainty over the global economy and its effects on oil demand, higher commercial inventories in the United States, and a stronger US dollar versus the euro," the ministry informed.

The yearly oil basket averages USD 104.45 per barrel.

Translated by Jhean Cabrera
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The rock of discord

A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.

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