Reliance is reportedly in talks with the US government for authorisation to import crude from Venezuela, according to sources
Newsquawk Staff ·
Reliance is reportedly in talks with the US government for authorisation to import crude from Venezuela, according to sources.
What it means
Reliance's discussions with the US government regarding crude imports from Venezuela are significant as they could signal a shift in U.S. sanctions policy. If authorized, this move may increase global crude supply, potentially impacting WTI and Brent prices and affecting the broader energy market sentiment. Traders should gauge the likelihood of approval and its implications for both supply dynamics and geopolitical tensions.
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- Eight tankers carrying 300,800 tonnes of Russian diesel are being monitored on potential voyages to the US, with seven declaring the US as their destination and arrivals expected from November 7th, according to Ukrainian sources cited by an RFE journalist
- 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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