Venezuela resumes exports of diluted crude oil after 15-month pause, according to a shipping document
Newsquawk Staff ·
Venezuela resumes exports of diluted crude oil after 15-month pause, according to a shipping document.
What it means
Venezuela's resumption of diluted crude oil exports after a 15-month hiatus signals a potential shift in the global oil supply dynamics. This development could impact WTI and Brent prices by increasing supply in a market already dealing with varying geopolitical tensions. Traders should monitor any implications for U.S. sanctions and how this might affect energy equities and commodity markets more broadly.
- Russian Deputy Foreign Minister Ryabkov says Russia remains in the preparatory phase for negotiations on Ukraine, TASS reports
- 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
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