London — Benchmark oil prices edged higher on Wednesday, boosted by further disruptions to Venezuela's crude exports which have helped tighten global inventories in recent weeks.
Venezuela's main oil export port of Jose and its four crude upgraders were unable to resume operations following a massive power blackout on Monday, the second in a month. The disruptions to transport and refining operations will weigh heavily on US inventories, Stephen Schork, editor of The Schork Report, said in a note.
The market was awaiting weekly official figures from the department of energy due later on Wednesday.
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