Oil prices edged higher on Thursday due to concerns over tighter global supply following the U.S. tariff threat on Venezuelan oil buyers, while market participants also assessed the potential impact of Donald Trump’s latest announcement on auto-sector tariffs.
Brent crude futures rose by 14 cents, or 0.2%, to $73.93 a barrel. U.S. West Texas Intermediate crude futures also gained 14 cents, or 0.2%, reaching $69.79 a barrel at 0049 GMT.