Traders Compete for Venezuelan Crude Export Rights as Oil Benchmarks Trade Sideways

Global interest in Venezuelan crude has intensified as Chevron, Vitol, Trafigura and other firms reportedly compete for U.S.-authorized contracts to market and export the country’s oil, underscoring efforts to re-integrate Venezuela into formal energy trade flows. The prospect of additional Venezuelan supply arrives as benchmark crude prices remain range-bound: Oil – Brent Crude and Oil – US Crude have seen only marginal net moves over the past month, suggesting that while incremental barrels from Venezuela could influence regional spreads and quality differentials, the broader market remains primarily driven by global demand signals and OPEC+ policy. Potential shifts in Venezuelan exports may also affect associated gas and byproduct flows, with implications for regional balances and shipping routes.

Over the past month, Oil – US Crude has slipped about 0.25%, reflecting a relatively flat but slightly softer trend, consistent with a 1-day technical stance of Hold, which points to short-term indecision around current levels. Oil – Brent Crude has edged up roughly 0.58% over the same period, also aligned with a near-term Hold signal, indicating a cautious outlook as traders weigh supply developments such as Venezuelan exports against demand uncertainty. In contrast, Natural Gas has dropped more than 20% in one month, and its 1-day technical view is Sell, highlighting persistent bearish momentum amid ample inventories and mild demand conditions. Investors can explore more updates, prices, and analysis across global markets at Commodities.