US eases Venezuela sanctions to boost oil supply
pre-market1 source ↓written by the desknot a recommendation
The U.S. Treasury has eased sanctions on Petróleos de Venezuela S.A. (PDVSA), allowing it to sell oil to U.S. companies and global markets. This decision aims to increase oil supply amid rising prices due to the Iran war. Additionally, the Jones Act will be waived for 60 days, facilitating shipping between U.S. ports. ⚓️
These moves may alleviate some pressure on soaring oil prices, impacting market dynamics significantly.
Not investment advice. For informational purposes only.