Oil prices boosted after Trump moves to end Venezuela crude deal

Dow Jones

2025/02/27

MW Oil prices boosted after Trump moves to end Venezuela crude deal

By William Watts

Oil futures rose Thursday morning, finding support a day after President Trump said he was revoking a license issued by the Biden administration that had allowed Chevron to produce oil in Venezuela.

Price moves

-- West Texas Intermediate crude CL00 for April delivery CL.1 CLJ25 rose 73 cents, or 1.1%, to $69.35 a barrel on the New York Mercantile Exchange.

-- April Brent crude BRNJ25, the global benchmark, was up 79 cents, or 1.1%, at $73.32 a barrel on ICE Futures Europe. The more actively traded May contract BRN00 BRNK25 gained 76 cents, or 1%, to $73.29 a barrel.

Market drivers

On Wednesday, Trump said he would revoke a license granted to Chevron Corp. $(CVX)$ in 2022 to operate in Venezuela and, despite sanctions, export crude to the U.S. The U.S. has imported around 270,000 barrels a day of Venezuelan crude so far this year, analysts at ING noted.

WTI and Brent settled Wednesday at their lowest marks since Dec. 10, with recent pressure tied to worries that proposed tariffs by the Trump administration will undercut global growth. Prospects of a deal to halt the Russia-Ukraine war, which could result in an easing of sanctions on Russian crude exports, weighed on prices as well.

The U.S. and Ukraine were expected this week to sign a deal on minerals.

See: The 3 biggest things to know about a potential U.S.-Ukraine minerals deal

-William Watts

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 27, 2025 07:07 ET (12:07 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Prospects of a deal to halt the Russia-Ukraine war, which could result in an easing of sanctions on Russian crude exports, weighed on prices as well. \n</p>\n<p>\n     The U.S. and Ukraine were expected this week to sign a deal on minerals. \n</p>\n<p>\n     See: The 3 biggest things to know about a potential U.S.-Ukraine minerals deal \n</p>\n<p>\n     -William Watts \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2025 07:07 ET (12:07 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil prices boosted after Trump moves to end Venezuela crude deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil prices boosted after Trump moves to end Venezuela crude deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-27 20:07</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Oil prices boosted after Trump moves to end Venezuela crude deal\n</p>\n<p>\n  By William Watts \n</p>\n<p>\n     Oil futures rose Thursday morning, finding support a day after President Trump said he was revoking a license issued by the Biden administration that had allowed Chevron to produce oil in Venezuela. \n</p>\n<p>\n     Price moves \n</p>\n<p>\n     -- West Texas Intermediate crude CL00 for April delivery CL.1 CLJ25 rose 73 cents, or 1.1%, to $69.35 a barrel on the New York Mercantile Exchange. \n</p>\n<p>\n     -- April Brent crude BRNJ25, the global benchmark, was up 79 cents, or 1.1%, at $73.32 a barrel on ICE Futures Europe. The more actively traded May contract BRN00 BRNK25 gained 76 cents, or 1%, to $73.29 a barrel. \n</p>\n<p>\n     Market drivers \n</p>\n<p>\n     On Wednesday, Trump said he would revoke a license granted to Chevron Corp. <a href=\"https://laohu8.com/S/CVX\">$(CVX)$</a> in 2022 to operate in Venezuela and, despite sanctions, export crude to the U.S. The U.S. has imported around 270,000 barrels a day of Venezuelan crude so far this year, analysts at ING noted. \n</p>\n<p>\n     WTI and Brent settled Wednesday at their lowest marks since Dec. 10, with recent pressure tied to worries that proposed tariffs by the Trump administration will undercut global growth. Prospects of a deal to halt the Russia-Ukraine war, which could result in an easing of sanctions on Russian crude exports, weighed on prices as well. \n</p>\n<p>\n     The U.S. and Ukraine were expected this week to sign a deal on minerals. \n</p>\n<p>\n     See: The 3 biggest things to know about a potential U.S.-Ukraine minerals deal \n</p>\n<p>\n     -William Watts \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2025 07:07 ET (12:07 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0070302665.USD","symbol_name":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2514805991","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2514805991","pubTimestamp":1740658020,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Oil futures rose Thursday morning, finding support a day after President Trump said he was revoking a license issued by the Biden administration that had allowed Chevron to produce oil in Venezuela.-- West Texas Intermediate crude CL00 for April delivery CL.1 CLJ25 rose 73 cents, or 1.1%, to $69.35 a barrel on the New York Mercantile Exchange.-- April Brent crude BRNJ25, the global benchmark, was up 79 cents, or 1.1%, at $73.32 a barrel on ICE Futures Europe. The more actively traded May contract BRN00 BRNK25 gained 76 cents, or 1%, to $73.29 a barrel.On Wednesday, Trump said he would revoke a license granted to Chevron Corp.  in 2022 to operate in Venezuela and, despite sanctions, export crude to the U.S. The U.S. has imported around 270,000 barrels a day of Venezuelan crude so far this year, analysts at ING noted.WTI and Brent settled Wednesday at their lowest marks since Dec. 10, with recent pressure tied to worries that proposed tariffs by the Trump administration will undercut glo","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU2129689605.HKD":"FRANKLIN GLOBAL INCOME \"A\" (HKD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","BK4201":"综合性石油与天然气企业","IE00B2Q91V27.USD":"GUINNESS GLOBAL ENERGY \"C\" (USD) ACC","LU1929549753.HKD":"FRANKLIN INCOME \"A\" (HKD) INC","LU2129689514.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) INC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0788109394.HKD":"BGF WORLD ENERGY \"A2\" (HKDHGD) ACC","LU0654597011.USD":"BGF NATURAL RESOURCES \"A4G\" (USD) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","IE00BGHQF524.EUR":"GUINNESS GLOBAL ENERGY \"C\" (EUR) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4581":"高盛持仓","LU2129689431.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) ACC","BK4570":"地缘局势概念股","LU0612318971.USD":"BGF NATURAL RESOURCES \"A5G\" (USD) INC","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","CVX":"雪佛龙","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU0122376428.USD":"贝莱德世界能源基金A2","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","SG9999002521.SGD":"United Global Resources A Acc SGD","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","BK4566":"资本集团","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU0612318385.USD":"BGF NATURAL RESOURCES \"A2\" (USD) ACC","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","BK4592":"伊斯兰概念","BK4559":"巴菲特持仓","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0278409577.USD":"MANULIFE GLOBAL FUND-GLOBAL RESOURCES FUND \"AA\" (USD) INC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","BK4588":"碎股","BK4550":"红杉资本持仓","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00B3CCJ963.GBP":"GUINNESS GLOBAL ENERGY \"C\" (GBP) ACC"},"translate_title":"特朗普终止委内瑞拉原油协议后油价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVX":1},"content_text":"MW Oil prices boosted after Trump moves to end Venezuela crude deal\n\n\n  By William Watts \n\n\n     Oil futures rose Thursday morning, finding support a day after President Trump said he was revoking a license issued by the Biden administration that had allowed Chevron to produce oil in Venezuela. \n\n\n     Price moves \n\n\n     -- West Texas Intermediate crude CL00 for April delivery CL.1 CLJ25 rose 73 cents, or 1.1%, to $69.35 a barrel on the New York Mercantile Exchange. \n\n\n     -- April Brent crude BRNJ25, the global benchmark, was up 79 cents, or 1.1%, at $73.32 a barrel on ICE Futures Europe. 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