Venezuela

Donald Trump, President of the United States, said that he believed it would be best for Venezuela to stay in the Organization of the Petroleum Exporting Countries (OPEC) but he added he wasn't sure if he thought the United States would benefit from this. In an interview, Trump replied that it would be better for Venezuela to remain in the cartel. Trump continued, "I'm not sure that it's better... but they're a member of OPEC and we've never discussed this with them at all." Venezuela, the founding member of this oil cartel, is home to some of the largest reserves...

This week, Venezuelan crude was offered to the?U.S. Gulf Coast refiners are getting barrels from Canada at a premium, according to two traders. A trader said that Venezuelan Merey-16 crude oil was being offered at a discount around $6 to Brent futures for U.S. Gulf Coast deliveries earlier this week. West Canadian Select settled at Houston on Tuesday at a discount of approximately $12.50 to Brent. Last week, global commodities?traders Vitol & Trafigura reached agreements with the U.S. government to help sell Venezuelan oil that was stranded. This came after the interim Venezuelan government agreed to export 50 million barrels...

A person with knowledge of the matter said that Brazilian billionaire Joesley Batista had met with Venezuela's interim president Delcy Rodriguez before and after he met with U.S. government officials. He reassured them, according to a source familiar with the situation, that she seemed ready to allow investment in her country's oil and natural gas industry. Source: The Batista's family energy firm Fluxus is evaluating Venezuelan business opportunities. They have consolidated South American assets ever since they acquired it in 2023. Fluxus, Batista and the holding company J&F have declined to comment. The billionaire's?shuttle diplomatics, whose meatpacker JBS is a...

The Venezuelan parties in the?court ordered auction of Citgo Petroleum's parent company have asked a U.S. The board of supervisors of the refinery said that a court of appeals should vacate the ruling of a 'judge' who ordered the sale to an affiliate of Elliott Investment Management. After?two years? of bidding, Delaware Judge Leonard Stark has approved a bid for $5.9bn from Elliott's Amber Energy to purchase Citgo Holding's parent company, PDV Holding. This was after?two rounds?of bidding in a sale that was organized to pay creditors up to $19bn?for debt defaults?and expropriations?in Venezuela. The sale order triggered opposition by...

The chief executive of TotalEnergies, a French oil company, said that the company would consider returning to Venezuela. However, it is not a top priority. "People want a quick return to Venezuela, but it's going to take some time to get a clear investment framework in place. TotalEnergies left Venezuela in 2021. Pouyanne pointed to 'the high capital investment needed to produce and transport Venezuelan heavy crude oil, and to manage greenhouse gas emissions. Pouyanne stated that adding 100,000 barrels a day would require an additional $100 billion. The CEO stated, "We will look at it, we'll be sure to...

The oil price rose on Tuesday, as concerns about Iran and possible supply disruptions overshadowed the?prospects of an increased crude supply coming from Venezuela. Brent futures were up 22 cents or 0.3% to $64.09 per barrel at 0430 GMT. They are hovering around the two-month high reached in the previous session. U.S. West Texas Intermediate Crude climbed 23 cents or 0.4% to $59.73. The ING commodities analysts said that the price rise coincides with the intensifying protests against the Iranian regime, which raises the possibility of a U.S. intervention. Iran, one of the largest producers of the Organization of the...

Exxon Mobil is still interested in visiting Venezuela, and it's prepared to send a team of assessors there, according to a source who knows the company strategy. This was reported on Monday, just a day after?U.S. Donald Trump has said that he may keep Exxon Mobil out of Venezuela. Darren Woods, Exxon's CEO, said that Venezuela had to change its laws and protect investment before Exxon was willing to operate in the country. Days later, Trump said to reporters aboard Air Force One that "he didn't like Exxon’s response," and that he would prefer to keep the oil major out....

Italy announced on Monday that Venezuela had released Italian citizens Alberto Trentini?and Mario Burlo?from prison. It also pledged to "upgrade its relations with Caracas" in response. After Venezuela released two Italian citizens, Biagio Piieri, a journalist, and Luigi Gasperin a businessman, last week, Foreign Minister Antonio Tajani confirmed that no other citizens with only Italian nationality were still in prison. Hundreds of dual nationals, both Italian and Venezuelans, are still being held. Venezuelan leadership announced on January 8, that it would release a large number of prisoners including foreigners, as a gesture. After the U.S. captured Venezuela's president, Nicolas Maduro,...

U.S. Treasury secretary Scott Bessent told reporters that additional sanctions against Venezuela could be lifted as soon as next week to facilitate oil sales. The sanctions against Venezuela could be lifted next week in order to promote oil sales. Bessent stated in an interview late on Friday that the IMF Special Drawing Rights (money assets) currently frozen by Venezuela could be used to rebuild its economy. Bessent, during a tour of a Winnebago Industries facility for engineering, said: "We are de-sanctioning oil that is going to be purchased." Treasury is examining ways to facilitate the return of oil sale proceeds...

Commodities trading houses Trafigura &?Vitol agreed to provide marketing and logistical services for the sale of Venezuelan oil, at the request of?U.S. A Trafigura spokesperson confirmed this via email. First reported on Thursday, citing people familiar with the discussions, that both companies were in negotiations with the U.S. Government for such deals. They were in competition with U.S. producers of oil and other commodities traders for lucrative deals to export Venezuelan oil. U.S. officials have said that they want to control Venezuelan Oil Sales Indefinitely After the U.S. captured South American country's president Nicolas Maduro Saturday. Richard Holtum, the Chief...

?U.S. U.S. President Donald Trump announced that a second round of attacks against Venezuela had been canceled following the South American country's cooperation. On Friday, the president announced that Venezuela would be releasing many political prisoners in a show of "seeking peace" following last week's dramatic U.S. operation which resulted in capturing?President Nicolas Maduro. "This is an important and intelligent gesture. Trump stated on "Truth Social" that the U.S.A. and Venezuela work well together in rebuilding their oil and natural gas infrastructure, which is much larger, better and more modern. His post continued, "Because of the?cooperation', I have cancelled the...

Friday, the premium for high-sulfur fuel oil in Asia over the West reached its highest level in eight months as traders expect more Venezuelan crude oil and fuel oil to be shipped to the United States than to Asia in the coming months. LSEG data show that the East-West 380cst HSFO swap for the first month of 2026, a measure used to compare HSFO prices in Asia, Europe and America, has risen above $27 a barrel, a price last seen in May 2025. This value has nearly doubled since the beginning of 2026. It is more profitable for traders to...

Silver broke $90 for the first time and gold jumped to an all-time high. The escalating tensions in Iran, coupled with concerns about the Federal Reserve’s autonomy, fueled demand for safe havens, while lower inflation numbers boosted bets on rate cuts. Gold spot rose by 1.1%, to $4,636.78 an ounce, at 1210 GMT. This was after the gold price had reached a session high of $4.639.48. U.S. gold futures for delivery in February rose by 1% to $4643.90. Jamie Dutta is the chief market analyst for?Nemo.money. He said that prices are rising because of "well-known haven characteristics" amid increased geopolitical...

Silver surpassed the $90 mark for the first time, and gold climbed to a near record high. Weaker-than-expected U.S. readings of inflation fueled bets that interest rates will soon drop amid geopolitical uncertainties. As of 0406 GMT the spot gold price rose by 0.9%, to $4,627.95 an ounce, after hitting a record $4,634.33 per ounce on Tuesday. U.S. Gold Futures for February Delivery? rose 0.8% to $4635.60. Spot silver rose 4.6% to $90.95 per ounce, after breaking $90 for first time. Brian Lan, GoldSilver's Central managing director, said that the data was positive. The inflation rate and unemployment rate in...

The price of gold hit a new record on Tuesday as U.S. inflation data fueled bets that the Federal Reserve will cut rates this year. As of 11:21 am, spot gold rose 0.4% to $4.609.69 an ounce. ET (1621 GMT), after a session high of $4634.33. U.S. Gold Futures for February Delivery rose by 0.1% to $4 617.90. David Meger said that the CPI data was a factor in the slight 'positive' tone in the market. This is because the CPI data indicates a greater likelihood of future Fed rate cuts. The core Consumer Price Index for the U.S. The...

Gold hit a new record on Tuesday as U.S. data on inflation fueled?bets that the Federal Reserve will cut rates this year. Meanwhile, persistent geopolitical and economic uncertainty drove demand for safe-haven assets. Silver also reached a new peak. As of 09:50 am, spot gold rose 0.8% per ounce to $4631.19 ET (1450 GMT) followed a session high of $4634.33. U.S. Gold Futures for February Delivery rose by 0.6% to $4641.30. David Meger said that the CPI data was a factor in the slight positive market tone. This is because the CPI data indicates a greater likelihood of Fed rate...

Investor caution before key inflation data slowed the upward momentum. Gold prices were mostly stable near their all-time high on Tuesday. Supported by concerns about Russia's intensified attacks?on?Ukraine?and?the situation in Iran?, gold prices were relatively steady. As of 1134 GMT spot gold was trading 0.2% lower, at $4,586.15 an ounce, after hitting a new record high of $4629.94 the previous session. U.S. Gold Futures for February Delivery fell 0.4% to $4,595.10. "A modest improvement?in U.S. dollars, driven by hawkish remarks from a Fed official and investors' attention?on the U.S. CPI release later in the session act as a headwind for...

Gold prices were largely stable on Tuesday. They traded below the record $4,600/ounce price?reached in the previous session amid increased geopolitical uncertainty and economic instability as investors booked profits. As of 0357 GMT spot gold was little changed at $4.593.81 an ounce, while U.S. futures for gold delivery in February fell 0.3% to $4.602.70. Kyle Rodda is a senior analyst at Capital.com. He said, "There are probably some people who want to make a quick profit. But as we saw yesterday, the dip during Asia hours can be purchased pretty quickly." Bullion climbed over 2% in the previous session to...

On Monday, gold reached a record-high of $4,600, and?silver set a new high, as the?criminal investigation?by Trump's administration into Federal Reserve Chairman Jerome Powell sent back investors into the asset seen as a haven. Gold spot jumped by 1.7%, to $4,584.12 an ounce, at 1159 GMT. It had earlier reached a record-high of $4,600.33. U.S. Gold Futures for February Delivery gained 2.1% to $4,595. Zain Vawda is an analyst at MarketPulse, by OANDA. He said: "With the Fed’s independence openly contested now, the ‘political risk’ discount normally reserved for emerging markets has bled into the U.S. Dollar, driving investors towards...

On Monday, gold prices rose by about 2%, reaching an all-time record of $4,600 per troy ounce. Silver also broke a new record, after the Trump administration launched a criminal investigation into Federal Reserve Chairman Jerome Powell. Gold spot jumped by 1.9%, to $4,596.05 an ounce, at 0931 GMT. It had earlier reached a session high of $4600.33. U.S. Gold Futures for 'February Delivery' gained 2.3%, reaching $4,606.20. Zain Vawda is a?analyst with MarketPulse, by OANDA. He said that the Fed's independency has been openly questioned, and the "political risks" discount, which was usually reserved for emerging markets, is now...

On Monday, gold broke through $4600/ounce, and silver also reached a record-high, as investors rushed to buy'safe-haven' assets due to increased geopolitical uncertainty and a criminal investigation into Federal Reserve Chairman Jerome Powell. By 0619 GMT, spot gold had risen 1.4% to $4572.36 an ounce. Bullion reached a record-high of $4,600.33 during the day. U.S. Gold Futures for February Delivery firmed by 1.8% to $4.583.20. Tim Waterer is the chief market analyst at KCM Trade. He said: "So between the events in Iran and possible U.S. involvement, as well as the Fed chair being the subject of a criminal investigation,...

On 'Monday', gold broke through $4600/ounce, and silver hit a new record. Investors rushed to safe havens in response to increased geopolitical uncertainty, as well as a criminal investigation into Federal Reserve Chairman Jerome Powell. By 0410 GMT, spot gold had risen 1.3% to $4,668.80 an ounce. Bullion reached a record-high of $4,600.33 during the day. U.S. Gold Futures for February Delivery firmed by 1.8% to $4.579.10. "So, between events in Iran and possible U.S. participation, as well as the (Fed's) chair being at the center of a criminal investigation... U.S. Futures turned lower on Powell news which was a...

Gold prices fell on Thursday, as a strong dollar weighed on investors. They were preparing for a major U.S. employment report due later this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.4% to $4435.62 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.4% to $4444.40. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near its...

Gold prices fell on Thursday as a result of a strong dollar. Investors were preparing for the release of a key U.S. employment report this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.7% to $4423.20 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.7% to $4432.0. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near...