oil

Oil prices settle slightly higher

Optimism around US inflation data outweighs Opec supply concerns

The global oil market was jolted in January when US forces swooped into Venezuela, seized former President Nicolas Maduro.

China has bought some Venezuelan oil from the US, Chris Wright says

In Asia, several Indian refiners have bought Venezuela’s flagship Merey crude following the US action

Brent crude futures settled at US$68.05 a barrel, up 50 cents, or 0.74%.

Oil prices climb on worries of possible Iran-US conflict

[HOUSTON] Oil prices settled higher on Friday (Feb 6), reversing earlier losses as traders worried that this week’s talks between the US and Iran had failed to reduce the risk of a military conflict b...

The US is set to import the most Venezuelan oil in a year after the Trump administration moved to control the country’s energy supply.

Trump welcomes China, India investment in Venezuela oil

Venezuela will allow greater ownership for foreign oil companies

Chevron is currently the only major US producer that still operates in Venezuela.

ExxonMobil, Chevron clock best month since 2022 as crude surges

The robust moves come alongside an upswing in oil prices and a broader rally

A rise in the US dollar from four-year lows hit earlier in the week put some pressure on oil prices.

Oil hovers near six-month high as investors track US-Iran tensions

A stronger US dollar can limit demand from oil buyers paying in other currencies

US President Trump said this week that “Cuba will be failing pretty soon.”

Trump threatens tariffs on any nation supplying Cuba with oil

[WASHINGTON] US President Donald Trump on Thursday threatened new tariffs on countries supplying oil to Cuba, escalating a pressure campaign against the Communist-run island.

The Puerto La Cruz oil refinery of Venezuelan state oil company PDVSA. To the US, the decision to park the proceeds in Qatar is justified on the grounds of the Gulf state's neutral location.
THINKING ALOUD

Why US parks Venezuelan oil money in a Qatar bank account

The move ensures that Venezuela doesn’t wriggle out of the US dollar zone

Chevron’s shipments are all bound for US refiners, including Valero Energy and Phillips 66.

Chevron amasses largest fleet in almost a year to ship Venezuelan oil

The US has also enlisted traders Trafigura Group and Vitol Group to help sell as much as 50 million barrels of oil

A structure near the headquarters of Venezuela's state-run oil company PDVSA in Caracas. Vitol and Trafigura have been granted contracts to sell 30 million to 50 million barrels of Venezuelan oil.

Vitol and Trafigura – traders at the heart of Trump’s Venezuela oil grab

The companies’ special licences to ship still-sanctioned barrels have given them a head start in a potentially lucrative trade