U.S. Refiners Resume Purchases of Venezuelan Crude Under Washington-Caracas Export Deal

U.S. refiners Valero and Phillips 66 have reportedly purchased initial cargoes of Venezuelan crude under a recent U.S.-Venezuela arrangement that permits exports of up to 50 million barrels, signaling a cautious reopening of trade flows after years of sanctions. The deals, destined for Gulf Coast refineries, may diversify feedstock supplies and slightly ease tightness in certain crude grades, with potential implications for global benchmarks Oil – Brent Crude and Oil – US Crude as investors assess whether Washington’s limited sanctions relief could evolve into more sustained Venezuelan supply to world markets.

Over the past month, prices for Oil – US Crude have advanced about 4.96%, while Oil – Brent Crude has risen roughly 5.34%, reflecting a market that remains supported by geopolitical risk and measured expectations for demand rather than any immediate impact from incremental Venezuelan flows. On a daily technical basis, both benchmarks are flashing a short-term Buy signal for US Crude and a Buy signal for Brent, suggesting near-term bullish momentum even as investors weigh how quickly Venezuelan barrels could normalize into global supply balances. Investors can explore more updates, prices, and analysis across global markets at Commodities.