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Venezuela sent 1M barrels of crude as a "gift," and Trump is using a Port Arthur tanker stop to show it off before Texas refineries process it. For the tape this is a physical oil headline with politi

Trump's statement on receiving 1 million barrels of Venezuelan oil signals potential commodity supply shift.

Context

What happened: President Donald Trump said Venezuela sent him 1 million barrels of oil as a "gift." Trump and Secretary of State Marco Rubio plan to show off a newly arrived tanker of Venezuelan crude to be processed in Texas refineries. Key numbers: 1 million barrels of oil. Why it matters: The crude is to be processed in Texas refineries, and the event is set for Tuesday.

What changed

President Donald Trump said Venezuela sent him 1 million barrels of oil as a "gift." Trump and Secretary of State Marco Rubio plan to show off a newly arrived tanker of Venezuelan crude to be processed in Texas refineries.

Why it matters

The crude is to be processed in Texas refineries, and the event is set for Tuesday.

Sources

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