Chevron Adjusts Venezuelan Crude Prices Amid Tanker Seizure

Chevron has reduced the price of Venezuelan crude oil sold to U.S. refiners following the seizure of a tanker by American forces off the Venezuelan coast. This incident has further strained the already delicate export routes and introduced new volatility to the Gulf Coast markets. According to traders cited by Bloomberg, Chevron’s recent sale of Venezuelan crude on December 11 occurred at lower prices compared to a similar transaction just two days prior. The discount was notably timed with the U.S. forces’ boarding and seizure of the Skipper, a sanctioned crude carrier.

Over the past month, both Oil – US Crude and Oil – Brent Crude have experienced declines, with prices dropping by 3.37% and 3.84%, respectively. In terms of short-term market sentiment, both assets currently hold a 1-day technical analysis signal of Sell for US Crude and Sell for Brent Crude. Investors can explore more updates, prices, and analysis across global markets at Commodities.