US issues Venezuela related license authorizing certain transactions necessary to ports and airport operations, also authorising certain activities involving Venezuelan-origin oil
Newsquawk Staff ·
US issues Venezuela related license authorizing certain transactions necessary to ports and airport operations, also authorising certain activities involving Venezuelan-origin oil.
What it means
The issuance of a US license allowing transactions related to Venezuelan ports and airport operations, as well as activities involving Venezuelan-origin oil, suggests a potential easing of sanctions that may influence global oil supply dynamics. This could lead to a shift in market sentiment towards Venezuelan oil and impact WTI prices, depending on how the market perceives the sustainability of these changes.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
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