Energy Cos Climb as Oil Held Near Recent Highs — Energy Roundup

• Shares of energy companies rose as oil futures remained elevated.
• The price of oil could go higher if the current conflict spreads to other players.
• There is speculation on whether the free world will enforce sanctions on Iran in a more significant way.
• Oil futures fell slightly after reports that the U.S. may be close to lifting sanctions against Venezuela.
• The lifting of U.S. sanctions on Venezuelan oil would mark the start of a “long journey” for the country’s efforts to boost production.

Energy companies saw an increase in their stock prices as oil futures remained high. There is concern that the ongoing conflict could lead to a further rise in oil prices if it spreads to other players. Additionally, there is speculation on whether the free world will impose stricter sanctions on Iran. In other news, oil futures experienced a slight decline following reports that the U.S. may lift sanctions against Venezuela. Economists believe that if this happens, it would be a positive step for Venezuela’s efforts to increase oil production.