Venezuela's PDVSA says it is in negotiations with the US to sell crude
Newsquawk Staff ·
Venezuela's PDVSA says it is in negotiations with the US to sell crude.
What it means
Venezuela's PDVSA is reportedly negotiating with the US to sell crude, which could potentially increase supply in a tight global market. This development may impact WTI and Brent prices, as any agreement could lead to a significant shift in crude availability, affecting both inflation concerns and geopolitical dynamics in the energy sector.
- TREASURY WRAP: T-NOTE FUTURES (Z6) SETTLE 11+ TICKS LOWER AT 106-16
- 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
- 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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