U.S. Refiners Snap Up Venezuelan Crude at Steep Discounts ...Middle East

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U.S. Refiners Snap Up Venezuelan Crude at Steep Discounts
Valero and Phillips 66 have bought two cargoes of Venezuelan crude that are part of the 50 million barrels that the Trump administration said Venezuela would supply to the United States after the ousting of President Nicolas Maduro earlier this month. Reuters reported the news, citing unnamed sources, who added that the seller of the cargos was Vitol and that the price of the crude was set at a discount to Brent crude of $8.50 to $9.50 per barrel. Brent is currently trading at over $65 per barrel. That compares to a discount of $15 per barrel to…

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