The U.S. has secured majority control of more than 65 billion… — Tidbits w Dom — TG.ME

The U.S. has secured majority control of more than 65 billion Venezuelan oil barrels: President Trump said the U.S. agreement with Venezuela covers more than 65 billion barrels of oil reserves. CNBC reported that volume would more than double the U.S. oil reserve. The Strategic Petroleum Reserve is the U.S. government’s emergency crude stockpile. Its volumes had fallen to lows not seen since the 1980s earlier this month. By comparison, U.S. gasoline averaged ~US$4.09 a gallon on Friday, +27% from a year earlier. WTI fell 4% this week, yet remains more than +24% above its level when the U.S.–Iran war began; Yahoo Finance showed October WTI at US$83.44 a barrel on Friday. The agreement arrives while Hormuz remains impaired: CNBC, citing IMF PortWatch, reported only a handful of ships were recently crossing the strait daily, versus ~100 a year ago. Venezuela has become a new supply option in a Hormuz-constrained oil market. Sources: CNBC, Yahoo Finance