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00:02U.S. fuel makers increased purchases of Venezuelan crude to the highest level in more than a year
00:07as the Iran War reshaped global oil flows, according to Bloomberg.
00:12Imports of Venezuelan heavy crude doubled in the week ending March 13,
00:16reaching the highest since late 2024. Oil shipments from Venezuela, Mexico, Brazil,
00:22Colombia, and Ecuador rose by more than 1 million barrels per day.
00:25A roughly 200,000-barrel increase from Saudi Arabia was offset by an equivalent decline from Iraq.
00:32The U.S. also exported nearly 5 million barrels per day, the highest since September 2025.
00:37Rising domestic inventories have buffered the U.S. from supply shocks
00:41as crude stockpiles increased for a fourth consecutive week.
00:45Gasoline prices approached $4 per gallon, and diesel exceeded $5,
00:49marking the highest levels since 2023 and 2022.
00:53For all things money, visit Benzinga.com.
