Vitol and Trafigura in talks with US administration on marketing Venezuelan oil, according to Bloomberg citing sources
Newsquawk Staff ·
Vitol and Trafigura in talks with US administration on marketing Venezuelan oil, according to Bloomberg citing sources.
What it means
This news indicates potential normalization of Venezuelan oil exports, contingent on discussions with the U.S. administration. If successful, it could alleviate supply constraints and impact global oil prices, potentially putting downward pressure on WTI. Traders should monitor how this evolves, as it could shift market sentiment regarding energy sector dynamics and geopolitical risks in the region.
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- 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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