At least two unsanctioned supertankers are departing Venezuelan waters carrying crude oil, according to reports citing TankerTrackers
Newsquawk Staff ·
At least two unsanctioned supertankers are departing Venezuelan waters carrying crude oil, according to reports citing TankerTrackers.
What it means
The departure of unsanctioned supertankers from Venezuela signifies a potential increase in oil supply from a region already under sanctions, which could pressure crude prices downward. Additionally, this movement may suggest that existing market constraints or sanctions are being circumvented, impacting the broader supply dynamics for WTI and Brent. Keep an eye on market reactions, particularly in energy commodities, as this could signal shifts in trading flows.
- TREASURY WRAP: T-NOTE FUTURES (Z6) SETTLE 11+ TICKS LOWER AT 106-16
- CRUDE WRAP: WTI (Z6) SETTLES USD 0.37 LOWER AT 96.09/BBL
- US EQUITY OPEN: Tech pares back some recent losses as US/Iran negotiations and US midterms are in focus
- Venezuela's October oil exports 1.08mln bpd, almost unchanged, according to shipping data
- [MARKET UPDATE] Crude benchmarks sink on reports that the US and Tehran have made concessions related to the Iranian nuclear program and frozen funds; Brent Jan'27 has slipped beneath USD 102/bbl
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