US Treasury issues Venezuela-related general license authorising certain transactions related to PDVSA
Newsquawk Staff ·
US Treasury issues Venezuela-related general license authorising certain transactions related to PDVSA.
What it means
The US Treasury's issuance of a general license regarding transactions with PDVSA signals a potential easing of restrictions on Venezuela, which could prompt increased activity in the energy sector. This move might influence oil prices as market participants reassess the outlook for Venezuelan supply and its implications for US sanctions policy. Traders should watch for shifts in related assets, particularly oil futures and energy equities, as the situation unfolds.
- CRUDE WRAP: WTI (Z6) SETTLES USD 0.37 LOWER AT 96.09/BBL
- 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
- US Energy Secretary Wright says that the best way to address high prices is high prices themselves, which spur supply growth; therefore, supply is increasing
- Venezuela's October oil exports 1.08mln bpd, almost unchanged, according to shipping data
- US CRUDE WRAP: WTI (Z6) SETTLES USD 2.88 HIGHER AT USD 102.78/BBL
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