50M-Barrel Venezuela-U.S. Oil Deal and Iran Supply Risk Propel Crude Futures

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Trafigura-chartered crude tanker loaded with Venezuelan heavy oil departed Jose port for the Louisiana Offshore Oil Port under the new 50-million-barrel supply deal between Caracas and Washington. Concurrently, U.S. warships deployed to the Gulf and sanctions on Iranian oil exports have driven crude futures above the 200-day moving average.

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