Diamondback Energy Inc

FANG: XNAS (USA)
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Venezuelan Oil Embargo Should Not Materially Affect Global Oil Prices

Major crude oil benchmarks rose slightly on Dec. 17 on news of a US blockade in Venezuela. The US has ramped up pressure following the seizure of an oil tanker a week prior. Both West Texas Intermediate and Brent each fell 5% during the week to lows of $55 per barrel and $59/bbl, respectively.

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