The U.S. Is Running Out Of Ways To Influence Oil Prices

Politics, Geopolitics & Conflict The Biden Administration has moved to lift sanctions on Venezuela’s oil industry under the guise of concessions from the Maduro regime, which now has said it could see new elections held in 2024. Meanwhile, crude oil prices are running hot after the war between Israel and Hamas raised geopolitical tensions in the Middle East, along with Russia and Iran falling under Western sanctions - although neither has seen much losses to their oil exports. With the SPR only half full and Cushing inventories operating…