Dow dropped 156, decliners over advancers 5-2 & NAZ pulled back 65.  The MLP index slid 2+ to the 222s & the REIT index fell 2+ to the 385s.  Junk bond funds inched higher & Treasuries saw a little buying, lowering yields.  Oil was off to the 75s & gold declined 5 to 1748.

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The Treasury Dept said Chevron (CVX), a Dow stock, has been issued an expanded license to import petroleum or petroleum products produced by its joint venture with PDVSA, the Venezuelan state oil-firm.  The approval comes after talks resumed between the Venezuelan gov, led by socialist Pres Nicolás Maduro, & the opposition Unitary Platform.  "This action reflects longstanding U.S. policy to provide targeted sanctions relief based on concrete steps that alleviate the suffering of the Venezuelan people and support the restoration of democracy," the Treasury Dept said.  US officials had previously offered to loosen sanctions & release some Venezuelan prisoners held in US jails contingent on continuing talks & agreements to strengthen democracy in Venezuela.  Venezuela produces at most 800K barrels of oil per day.  That figure is up from the average of 525K barrels it produced a year ago, but far off its failed target of 1M a day by the end of 2021 & nowhere near the more than 3M barrels per day the country was producing in the 1990s.  The stock fell 3.82.
If you would like to learn more about CVX, click on this link:
club.ino.com/trend/analysis/stock/CVXa_aid=CD3289&a_bid=6ae5b6f7

US Treasury authorizes Chevron to expand oil pumping in Venezuela

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