All posts tagged: Crude oil markets

Ritchie Torres calls for probe into trades ahead of March Iran news

Ritchie Torres calls for probe into trades ahead of March Iran news

Published by Sam Flores

U.S. Rep. Ritchie Torres, a Democrat from New York, during an interview in New York, Jan. 28, 2025. Victor J. Blue | Bloomberg | Getty Images U.S. Rep. Ritchie Torres, D-N.Y., on Wednesday called for a federal probe into suspicious trading activity in oil and equity futures markets just before President Donald Trump’s announcement of a five-day delay in attacks on Iran’s energy infrastructure in March. In a letter to Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Michael Selig first obtained by CNBC, Torres cites reports on a series of irregular and well-timed trades in the minutes ahead of Trump calling a pause on hostilities. “What kind of trader would make a massive trade at 6:49 a.m., 15 minutes before a market-moving presidential announcement with billions of dollars at stake and without a hedge?” Torres said in an interview Wednesday. “The only plausible answer to that question is an insider trader. Any other alternative is a statistical impossibility.” More than $500 million in crude oil futures trades were made …

Venezuela tells China oil prices won’t be set by the U.S. after Maduro capture

Venezuela tells China oil prices won’t be set by the U.S. after Maduro capture

Published by Sam Flores

Venezuela has assured Beijing that its oil pricing will not be dictated by the U.S. and that Chinese investment in the South American country remains secure, according to state media. Speaking at a press briefing Tuesday, Remigio Ceballos, Venezuelan ambassador to China, dismissed reports that Washington would influence the price China pays for Venezuelan crude, saying Caracas would not abide by U.S. arrangements. The Wall Street Journal reported last month that U.S. President Donald Trump was considering exerting control over Venezuela’s state-run oil company Petróleos de Venezuela SA, or PDVSA, including lowering prices to $50 per barrel. “Regarding oil pricing, Venezuela will not heed the arrangements of the United States or other countries. We have the right to make independent decisions, and oil prices will be determined based on international market prices,” Ceballos said. The comments came about a month after the U.S. captured Venezuelan President Nicolás Maduro and his wife, Cilia Flores, in a surprise military operation, and moved to assert influence over its oil sector through sanctions and negotiated oil sales. China, which …

U.S. handing over seized tanker to Venezuela, officials say: Reuters

U.S. handing over seized tanker to Venezuela, officials say: Reuters

Published by Sam Flores

People walk in front of a crude oil tanker at Maracaibo Lake in Maracaibo, Venezuela, on January 12, 2026. After the US raid that deposed Nicolas Maduro as Venezuela’s leader, citizens hope the ensuing talks on selling its oil to US may improve their dire economic fortunes. (Photo by Margioni BERMÚDEZ / AFP via Getty Images) Margioni Bermudez | Afp | Getty Images The United States is handing over to Venezuela a tanker that it seized this month, two U.S. officials told Reuters on Wednesday. The United States has been carrying out a months-long effort to seize oil tankers linked to Venezuela – carrying out seven apprehensions since late last year. The officials, who were speaking on the condition of anonymity, identified the vessel being handed over to Venezuelan authorities as the Panama-flagged supertanker M/T Sophia. They did not say why the tanker was returned. The U.S. Coast Guard, which leads interdiction and seizure operations, did not immediately respond to a request for comment. The Venezuelan communications ministry, which handles all press queries for the government, did not immediately respond to a request for comment. The Sophia was carrying oil when it was interdicted on Jan. 7 by the Coast Guard and …