Commodity Giants Are Back To Trading Venezuela’s Oil

Weeks after the U.S. eased the sanctions on Venezuela, essentially allowing exports of Venezuelan crude, commodity trading giants are back in the business of trading with oil from the country with the world’s largest reserves. Some of the largest independent oil trading houses are already offering Venezuelan cargoes, including to U.S. buyers. Commodity giants have also struck deals to buy crude from intermediaries approved by Venezuela’s state-owned oil company PDVSA. The easing of the sanctions has allowed the world’s biggest…