Venezuela’s state oil company, PDVSA, is currently grappling with increased crude discounts and logistical challenges following the U.S. seizure of a tanker carrying Venezuelan oil. The very large crude carrier, Skipper, was intercepted near Venezuela’s coast, marking a significant move by Washington to enforce its sanctions on Venezuelan crude. This action has led to stuck cargoes and mounting pressure from buyers for PDVSA to renegotiate trading terms, as reported by traders and sources. The incident coincides with new U.S. sanctions targeting six vessels and their associated companies, further tightening restrictions on Venezuela’s oil exports.
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Over the past month, the price of Natural Gas has decreased by 8.08%, with a current 1-day technical analysis signal of Hold. Meanwhile, US Crude has seen a 5.12% decline, and its 1-day technical signal is Sell. Similarly, Brent Crude has dropped by 5.50% over the same period, with a 1-day technical signal also indicating Sell. These movements reflect the broader market uncertainties and geopolitical tensions impacting the energy sector. Investors can explore more updates, prices, and analysis across global markets at Commodities.