Oil Markets Eye Potential Venezuelan Supply Boost as Chevron Nears Expanded U.S. License

Global crude markets are watching developments in Venezuela after reports that Chevron is poised to secure an expanded U.S. license that could pave the way for higher Venezuelan output and exports. Greater access for Chevron and potentially other producers could gradually add incremental barrels to the seaborne market, with implications for both Oil – Brent Crude and Oil – US Crude benchmarks, while shifts in associated liquids and production dynamics may also indirectly influence Natural Gas balances over time.

Over the past month, Brent prices have advanced about 8.38%, while WTI has gained roughly 7.92%, reflecting tighter supply expectations and geopolitical risk that could be partly tempered if Venezuelan barrels return more meaningfully to market. In the short term, both benchmarks exhibit constructive technical setups, with Brent showing a 1-day signal of Buy and WTI likewise flashing a 1-day Buy, suggesting positive near-term momentum. By contrast, natural gas has fallen about 10.47% over the last month amid ample supply and seasonally softer demand signals, and its 1-day technical stance currently leans bearish with a Sell indication. Investors can explore more updates, prices, and analysis across global markets at Commodities.