WS #14323
US and Venezuela finalize a 25-year deal giving US control over 65 billion barrels of oil reserves, potentially doubling US reserves and lowering gas prices, countering the oil supply disruption from the Iran conflict. A tanker was struck by an unknown projectile in the Strait of Hormuz, while oil flows have rebounded to 15-16 million bpd, indicating a complex situation with both risks and recovery.
US-Venezuela Oil Deal
US and Venezuela finalize a 25-year deal giving US control over 65 billion barrels of oil reserves, potentially doubling US reserves and lowering gas prices, countering the oil supply disruption from the Iran conflict.
A tanker was struck by an unknown projectile in the Strait of Hormuz, while oil flows have rebounded to 15-16 million bpd, indicating a complex situation with both risks and recovery.