Morningstar Oil View

Benzinga

Morningstar said U.S. action in Venezuela doesn’t change its oil outlook, arguing infrastructure rebuilds take years and any price spike would be brief, according to The Wall Street Journal.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Morningstar said the U.S. military intervention in Venezuela does not alter its oil price outlook,

00:08citing the long timeline and large capital needs required to modernize the country's oil

00:12infrastructure. According to The Wall Street Journal, analyst Joshua Aguilar said regime

00:17changes rarely lead to rapid investment or stable supply, particularly during power struggles.

00:23Morningstar maintained medium-term price estimates of $65 a barrel for Brent and $60

00:28a barrel for WTI, adding that any upward price movement would likely be short-lived.

00:34Oil prices edged lower in early Asian trading as markets weighed the possibility of sanctions

00:39relief. For all things money, visit Benzinga.com.

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