Oil Traders Hedge Geopolitical Risk With Record Options

1. Venezuela Braces for Impact After US Reimposes Sanctions -  The Biden administration reimposed sanctions on Venezuela’s oil industry after its six-month waiver expired on 18 April, with the White House providing oil firms with a 45-day grace period to wind down operations. - The US waiver was linked to President Maduro’s agreement to hold a free and fair presidential election in July and to allow opposition politicians to participate, but both Maria Corina Machado and her proxy replacement Corina Yoris were barred from running.…