Crude Oil prices are seeing some froth on Tuesday as energies get pulled in multiple directions. WTI barrel bids bounce between $86 and $84.50. Crude supply constraints may not be as bad as originally thought, but geopolitical stress continues to weigh. igh inconsistent outcomes for crude oil markets. The Israel-Hamas conflict escalation continues to stress out Crude Oil traders, but lack of immediate negative impact is keeping prices capped off.
Hopes for a US-Venezuela crude oil exporting deal remain high with the US reaching a preliminary deal to allow the South American country to return to global oil exporting markets in exchange for a monitored presidential election next year in Venezuela. A return for Venezuelan crude exports would be a surge for oil markets that already sees crude reserves rebounding firmer and faster than expected as global demand struggles to eat up enough of the already-constrained supply.
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