Oil Catches Bid On Expected Loss of Venezuelan Crude -- Market Talk

Dow Jones

2025/02/27

0934 ET - Oil futures are higher on Trump administration's plans to revoke a license under which Chevron is producing oil in Venezuela. "While the Chevron/Venezuela halt to business may pull barrels away from U.S. imports in the near term, the bigger question on traders' mind will be if a peace deal is cut in Russia along with OPEC still possibly raising production in April," Dennis Kissler of BOK Financial says in a note. WTI is up 1.9% at $69.95 a barrel, and Brent gains 1.8% to $73.82 a barrel. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

February 27, 2025 09:34 ET (14:34 GMT)

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WTI is up 1.9% at $69.95 a barrel, and Brent gains 1.8% to $73.82 a barrel. 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WTI is up 1.9% at $69.95 a barrel, and Brent gains 1.8% to $73.82 a barrel. 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