US Cash Crude-Offshore grades ease after spiking in previous session
U.S. Gulf of Mexico crude grades weakened after a previous spike due to U.S.-Venezuela tensions. Mars eased 80 cents, SGC $1.30. Chevron's shipments remain unaffected. Venezuela authorized two VLCCs to China. Oil futures rose slightly amid potential U.S. sanctions on Russia and Venezuelan tanker blockades. Light Louisiana Sweet, Mars Sour, WTI Midland, and West Texas Sour saw varied price changes. Brent February futures rose 14 cents, WTI January futures 21 cents. Brent/WTI spread narrowed to minus $3.85.
Reuters·