U.S. Policy Shift Lets China Buy Venezuelan Oil at Market Prices, Supporting Firm Crude Benchmarks

The U.S. administration is permitting Chinese buyers to import Venezuelan crude, but only at market-based prices rather than the steep discounts seen under former president Nicolás Maduro, according to an official cited on Thursday. The move aims to reintegrate Venezuelan barrels into global trade flows while preventing what Washington views as “unfair, undercut” pricing that previously pressured international benchmarks such as Oil – Brent Crude and Oil – US Crude. By insisting most volumes clear through the global marketplace, the policy is designed to normalize Venezuela’s role in supply without triggering another bout of disruptive discounting that could distort regional crude spreads and undermine competing producers.

Over the past month, front-month futures for Oil – US Crude have advanced about 4.96%, reflecting a market that has been balancing geopolitical risk, gradual supply normalization, and steady demand expectations; the current 1-day technical posture for WTI is a Buy signal, indicating near-term momentum remains supportive. Benchmark Oil – Brent Crude has gained roughly 5.34% over the same period, slightly outperforming WTI and suggesting persistent strength in seaborne crude benchmarks; its 1-day technical view also screens as a Buy, aligning with the broader uptrend and signaling that traders currently expect any additional Venezuelan flows to be absorbed without derailing the prevailing bullish bias. Investors can explore more updates, prices, and analysis across global markets at Commodities.