New York Mercantile Exchange and West Texas Intermediate

Venezuela oil minister: Brent crude LCOJ6, +1.79% the global oil benchmark, rose 88 cents, or 2.6%, to end at $35.29 a barrel after trading as low as $33.29 on London ICE Futures exchange, according to Market Watch. On the New York Mercantile Exchange, West Texas Intermediate futures CLJ6, +2.00% rose 92 cents, or 2.9%, to finish at $33.07 a barrel. Oil bounced back after news reports said Venezuela oil minister announced plans for his country to meet with representatives from Russia, Saudi Arabia and Qatar. Brent settlement was the highest since Jan. 5, while the WTI close was the highest since Jan.29. Such meetings have sparked rallies in the past, though producers have yet to agree on production cuts. Venezuela oil minister, Eulogio Del Pino, said the countries would hold a broad meeting in mid-March, reports said. (news.financializer.com). As reported in the news.