Western Texas Intermediate (WTI) oil price experiences a decline after two days of gains, trading lower around $86.80 per barrel during the Asian sess
Crude oil prices snap the two-day winning streak on US- Venezuela oil deal US President’s office could implement relaxation on sanctions of Venezuela's oil and gas sector.
stays silent on Iran's proposal for an oil embargo on Israel. ion on Thursday. This easing could be attributed to the US-Venezuela deal that would result in an increase in global Crude oil production. United States is considering exemptions to sanctions on Venezuelan oil exports, which is expected to lead to a significant surge in crude production in the
country. Instead, it could divert barrels from its current primary destination, China. The US President’s office is reportedly set to implement some substantial relaxation of energy-related sanctions for Venezuela's oil and gas sector in the near term. A senior US State Department official shared this information with Reuters on Wednesday. American Petroleum Institute released the report of API Weekly Crude Oil Stock for the week ending on October 13, which showed a decline of 4.
remains unresponsive to Iran's proposal for an oil embargo on Israel, showing no indications of support for such a measure. The conflict in the Gaza Strip is intensifying following a rocket attack on a hospital that resulted in the death of over 500 civilians. Accusations are flying between Israel and Hamas regarding the explosion at the building.
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