Oil tankers are diverting from their route to Venezuela; some are sitting idle at ports instead of setting off for Asia; discounts on Venezuelan crude are deepening; and PDVSA may soon start shutting down wells for lack of storage space. President Trump’s military campaign against Venezuela is threatening an $8-billion market. It started with one tanker seizure, a week ago. Then Trump escalated the rhetoric, threatening a blockade on Venezuelan tanker traffic and demanding that Venezuela returned “Oil, Land, and other Assets that they…
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