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Tue · 03 Nov 2026

US Nears Deal for Long-Term Access to Venezuela's Oil Reserves

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US Nears Deal for Long-Term Access to Venezuela's Oil Reserves

🛢️ CARACAS — Washington is shopping for oil while it blockades the world's main chokepoint. 📌 LOOK CLOSER: A Venezuela deal gives Trump a supply lever to hold oil prices below the political pain threshold — without touching Hormuz. It undercuts Iran's core bet: that Hormuz pressure forces US concessions. If Venezuelan crude offsets the supply gap, Bessent's economic track gains runway. Watch Maduro's price: sanctions relief, probably.

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