President Donald Trump is set to host executives from leading U.S. oil companies at the White House on Friday following the arrest of Venezuelan leader Nicolás Maduro.
Crude oil continues to test support on Wednesday, as the Venezuela situation continues to evolve. With 50 million barrels sent to the US, the reality is that it was less than 5 days' output.
This is a developing story and will be updated.
The US has seized a Russian-flagged oil tanker with links to Venezuela.
Oil sales from Venezuela to continue indefinitely, sanctions will be reduced, sources say
U.S. forces moved to seize an oil tanker that had fled the U.S. blockade of sanctioned vessels near Venezuela.
Stock futures little changed after Dow closes above 49000 for the first time
President Donald Trump late Tuesday said Venezuela will send the U.S. 30 million to 50 million barrels of oil, which will then be sold by the U.S. and the proceeds controlled by him.
The figure would represent a significant amount of all the oil the country produces annually.
Oil futures slid in the early Asian session after President Trump says on Truth Social that Venezuelan oil is to be shipped to the U.S.
Trump says Venezuela to give up to 50 million barrels of oil to U.S.
Any bounce in oil looks like a selling possibility to me at the point in time.