HOUSTON: Oil prices gained one per cent on Monday as US President Donald Trump said he will impose a 25pc tariff on countries that buy oil and gas from Venezuela.

Price gains were capped, however, as the US gave oil producer Chevron until May 27 to wind down its oil operations and exports from Venezuela. Trump had initially given Chevron 30 days from March 4 to wind down that licence.

The two moves taken together........

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