U.S. orders foreign firms to further cut down on oil trades with Venezuela – Reuters

Anil Panchal FXStreet

With the WTI crude prices on recovery mode, reports from Reuters add optimism into the energy traders during early Friday.

Reuters reported ahead of the Friday’s Tokyo open that three sources familiar with the matter said that the United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions.

The report further said that the sources said that the State Department made clear that any kind of oil trade, whether it be direct, indirect or barter, would be considered a breach.

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Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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