U.S. Refiners Secure Discounted Venezuelan Crude Amid Firm Oil Benchmarks

U.S. refiners Valero and Phillips 66 have reportedly purchased two shipments of Venezuelan crude, part of the 50 million barrels Washington said would arrive in the U.S. following the recent change of government in Caracas. According to Reuters, trading house Vitol sold the cargoes at a steep discount of $8.50–$9.50 per barrel to Oil – Brent Crude, which is currently quoted above $65 per barrel, narrower than the $15-per-barrel discounts seen in previous deals. The move underscores how U.S. refiners are capitalizing on discounted supplies while global benchmarks such as Oil – US Crude and Brent remain supported by geopolitical risk and supply uncertainty.

Over the past month, U.S. crude futures have gained about 4.96%, while Brent has advanced roughly 5.34%, reflecting a firming market despite the availability of cheaper Venezuelan barrels. From a short-term trading perspective, both WTI (US Crude) and Brent currently flash a 1-day technical rating of Buy and Buy, respectively, suggesting near-term momentum remains positive even as refiners seek out discounted heavy crude to optimize margins. Investors can explore more updates, prices, and analysis across global markets at Commodities.