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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (54256)	2/5/2019 2:03:19 PM
From: Goose94	Read Replies (1) of 203382

Crude Oil: Venezuelan oil backed up with no place to go. Press reports suggest that Venezuela is having difficulty finding buyers for its oil, with U.S. sanctions encircling the country. Satellite imagery shows several tankers idling off the coast of Maracaibo, the country’s second largest city. Meanwhile, Reuters reports that a “flotilla loaded with about 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay.” U.S. sanctions are biting much harder than first expected, and a sizable chunk of Venezuela’s oil exports could be in jeopardy.

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