Chevron Sends First Venezuelan Oil Cargoes to U.S. After New License; India Buys 2 Million Barrels of U.S. WTI for October

West Texas Intermediate (WTI) crude oil prices fluctuated between $62.65 and $63.96 per barrel from August 11 to August 14, 2025. On August 15, sources reported that India's Indian Oil Corporation (IOC) purchased 2 million barrels of U.S. WTI crude oil for delivery in October. Additionally, Chevron has dispatched its first two cargoes of Venezuelan oil to the United States following the issuance of a new license, according to shipping data. This marks a resumption of Venezuelan oil shipments to the U.S. by Chevron under the updated licensing framework.