65ENERGY
⚡ Markets: U.S. control over Venezuelan crude could eventually bring more supply to market, but the immediate impact is geopolitical, potentially straining relations with China, a major creditor to Venezuela. The deal could benefit U.S. refiners configured for heavy crude.WTIPDVSA bonds
The Trump administration has secured a long-term deal to control Venezuela's oil resources, a move aimed at sidelining Chinese and Russian influence. The deal was brokered by Venezuelan billionaire Alejandro Betancourt, who was previously the target of U.S. money-laundering investigations, raising questions about the partnership.
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