HYDROCARBONS | Annual averaged price at USD 104.04

Venezuelan oil basket up 1.64%; ends at USD 108.75

The Venezuelan oil barrel spiked USD 1.76 this week

(File photo)

EL UNIVERSAL

Friday February 15, 2013 12:04 PM

The price of the Venezuelan oil basket ended this week at USD 108.75, gaining USD 1.76 (1.64%) with respect to the previous week (USD 106.99), informed the Venezuelan Ministry of Petroleum and Mining.

"Oil prices continue their upward trend this week amid favorable economic information from China and the US, geopolitical tensions in the Middle East, and the weakness of the US dollar with respect to the euro," the ministry posted on its website.

Consequently, the Venezuelan oil basket annual average price stands at USD 104.04 per barrel.

Translated by Jhean Cabrera

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