Singapore (HRNW)- Oil prices have fallen sharply in the global market following the severe political and military crisis in Venezuela. Brent crude oil prices fell by 0.63% in the Asian market, after which Brent crude oil was sold at $60.37 per barrel.
West Texas Intermediate (WTI) crude oil prices also fell by 0.70%, after which the price of WTI crude oil fell to $56.92 per barrel.
It should be noted that the US military launched attacks on various places including the Venezuelan capital Caracas, which further strained the situation. According to reports, Venezuelan President Nicolas Maduro and his wife have been arrested and transferred to the United States.
At least seven explosions took place in the capital Caracas, while low-flying warplanes were also seen in different areas of the city. It is being reported that US President Donald Trump ordered these attacks in Venezuela.
Political instability and military operations have caused investor anxiety in the global market, which has had a direct impact on oil prices.
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