finance
Trafigura and Vitol Sell More Venezuelan Oil to Asia After Iran War Disrupts Middle East Supplies
Two major commodity traders are directing more Venezuelan crude toward Asian buyers. The shift follows disruptions to Middle East oil supplies caused by the Iran war.
Jun 11, 1:15 PM·1m read1 source
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Commodity traders Trafigura and Vitol are selling more Venezuelan oil into Asia. The increase follows disruptions to competing supplies from the Middle East caused by the Iran war. Trafigura and Vitol are both directing additional volumes of Venezuelan crude toward buyers in the region.
The companies have not disclosed specific shipment sizes or contract values. The Iran war has interrupted oil flows from the Middle East, reducing available supply for traditional customers. Asian refiners have turned to alternative sources to maintain feedstock levels.
@business reported the sales increase by the two traders. No other details on pricing, destinations, or contract terms were provided in the account.
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