Geopolitics
65 Billion Barrels on Paper: The U.S.-Venezuela Oil Deal
Trump announced majority U.S. control of 65 billion barrels of Venezuelan oil. The structure is undisclosed, and the pump won't notice for years.
Trump announced majority U.S. control of 65 billion barrels of Venezuelan oil. The structure is undisclosed, and the pump won't notice for years.
The June 17 memorandum reopened the Strait of Hormuz and sent oil back to pre-war prices. Three weeks later the strait is declared closed again, CENTCOM has struck more than 300 targets in three nights, and Brent heads into Monday with a weekend of escalation still unpriced.