Spain’s Repsol is set to resume operations in Venezuela under newly granted U.S. licenses, aiming to lift joint crude output by 50% from current levels of around 45,000 barrels per day and triple production within three years. The move underscores efforts to revive Venezuelan supply and could influence medium-term pricing dynamics for Oil – Brent Crude, Oil – US Crude, and potentially associated Natural Gas flows as infrastructure and contractual conditions stabilize.
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Over the past month, Brent has fallen about 6.7%, while WTI is down roughly 4.9%, reflecting softer demand expectations and a reassessment of geopolitical risk, with both showing a near-term Hold and Hold technical bias, respectively. Natural gas has dropped about 14.5% over the same period amid ample supply and mild weather patterns, and its one-day technical stance screens as Sell, signaling lingering downside pressure despite potential long-run support from any incremental Venezuelan output gains.
Investors can explore more updates, prices, and analysis across global markets at Commodities.