Brent Falls on Uncertainties over US Order on Venezuela
Benchmark Brent oil prices fell almost 1 percent by midday on Monday after rising briefly earlier, as traders cited uncertainties about U.S. President Barack Obama's executive order against OPEC member Venezuela, which also imposed sanctions on certain individuals.
Brent's front-month was down 42 cents at $59.31 a barrel, after trading earlier at nearer to $60 before the executive order was issued. The day's high for Brent was $60.02.
Obama declared Venezuela a national security threat, sanctioning seven individuals and expressing concern about the Venezuelan government's treatment of political opponents.
(Reporting By Barani Krishnan; Editing by Chizu Nomiyama)
