Venezuela’s crude exports face a significant challenge as U.S. President Donald Trump has imposed a blockade on sanctioned tankers transporting goods to and from the country. This move jeopardizes Venezuela’s reliance on Russian naphtha, a critical component used to dilute its extra heavy crude. Over the past months, Venezuela turned to Russia for its naphtha needs after other supply sources dried up, but the blockade raises concerns over the sustainability of these essential shipments. The development impacts global crude markets, particularly Oil – US Crude and Oil – Brent Crude.
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Over the past month, the price of Oil – US Crude (CM:CL) has declined 5.97%, while Oil – Brent Crude (CM:BZ) has dropped 6.39%. Both assets display bearish momentum with 1-day technical analysis signals identified as Sell for US Crude and Sell for Brent Crude. The recent disruption in Venezuelan exports could inject further volatility into energy markets as investors monitor developments closely.
Investors can explore more updates, prices, and analysis across global markets at Commodities.