Jul. 24 at 6:46 PM
$CVX Oil Gains Cool as U.S. May Restore Chevron's Venezuela License
Crude prices rose but eased after WSJ reported the Trump administration plans to reinstate Chevron’s Venezuela license, allowing renewed oil production. The U.S. imported 170,000 bpd from Venezuela in April, down from nearly 300,000 bpd in Dec–Jan.
WTI +0.5% to
$65.58, Brent +0.3% to
$68.72.
Earlier, oil rallied on U.S.-EU tariff talks progress, fueling hopes of more trade deals before the Aug. 1 deadline. Prices also found support from strong U.S. summer fuel demand and ongoing Russia-Ukraine tensions.
Brent +0.7% to
$68.97, WTI +0.8% to
$65.81 at midday.