Venezuela's Amuay (645k BPD) restarting basic operations after power blackout, according to reports
Newsquawk Staff ·
Venezuela's Amuay (645k BPD) restarting basic operations after power blackout, according to reports.
What it means
The restart of operations at Venezuela's Amuay refinery following a power blackout is significant as it could ease supply constraints in the oil market. This development might influence crude prices, especially if the output resumes to near-capacity levels. Traders should monitor price reactions as the flow of Venezuelan oil typically impacts global supply and geopolitical dynamics.
- Dutch PM says no European ally is willing to buy Russian crude
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- TTF rises to EUR 100/MWh for the first time since December 2022
- Russia and Azerbaijan are discussing natural gas swap supplies, reports Interfax
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
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