US handled $12 billion in Venezuelan oil revenues, secret report shows - NYT
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The US handled $12 billion in Venezuelan oil revenues, according to a secret report cited by The New York Times.
The report details the scale of US involvement in handling proceeds from Venezuelan oil sales, though Reuters has not verified the story.
The reported financial involvement could intensify scrutiny of US-Venezuela oil policy and potentially influence energy-market sentiment.
Bullish strength: 50/100
Bearish strength: 50/100
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Ukrainian drone strikes have disrupted approximately 30% of Russia's oil refining capacity since late October, threatening fuel supplies and diesel exports.
Nine of Russia's 35 major refineries have been affected, with targeted facilities representing approximately 2.2 million barrels per day of refining capacity.
The disruptions could tighten regional fuel supplies, support diesel prices and increase volatility across global energy markets.
ICE canola futures remained slightly lower in Tuesday trading, with losses easing compared with earlier in the session.
Lower crude oil prices weighed on Chicago soyoil and European rapeseed, while Malaysian palm oil traded mostly higher; approximately 26,200 canola contracts had changed hands.
Potential pressure from a large U.S. soybean crop and upcoming USDA supply-demand estimates could keep canola futures sensitive to agricultural supply expectations.
ICE canola futures remained only slightly lower in Tuesday trading, recovering from steeper declines earlier in the session. Weak crude oil prices weighed on canola alongside Chicago soyoil and European rapeseed, while Malaysian palm oil traded mostly higher; traders were also awaiting the USDA's monthly supply-and-demand estimates. Potentially large soybean-crop estimates could add further pressure to canola, while developments in crude oil and agricultural markets may drive near-term volatility.
Wall Street opened lower as hotter-than-expected U.S. inflation heightened fears of more aggressive Federal Reserve interest rate hikes in December. October CPI rose 0.4% month over month, while core CPI increased 0.3% for the third consecutive month, pushing up expectations of a potential 50-basis-point rate hike; falling oil prices helped indexes pare losses. Persistent inflation could pressure equities by reinforcing expectations of tighter monetary policy, while continued oil declines may provide some relief.