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Key red state could decide US gas prices as Venezuelan oil hits the market

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Key red state could decide US gas prices as Venezuelan oil hits the market

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Nobody handles oil quite like Texas and a fresh supply of Venezuelan crude could soon be headed to the Lone Star State’s coast.

The first barrels of thick, tar-like crude could arrive as soon as next week at ports across Texas, Louisiana and Mississippi, where dense clusters of refineries are built and bred to process heavy oil.

The development follows President Donald Trump’s Tuesday evening announcement that Caracas will transfer up to 50 million barrels of oil to the U.S., worth about $2.8 billion at current market prices. 

WE’RE GOING TO LET THE OIL FLOW: ENERGY SECRETARY SAYS US WILL OVERSEE VENEZUELAN OIL SALES

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Venezuelan children swimming near an oil tanker docked at a pier near the refinery of the state oil company PDVSA. (Jesus Vargas/picture alliance/Getty Images)

“The Gulf Coast concentrates most of our refining capacity, and those refineries were built or revamped over the years to process extra-heavy crude similar to what is produced in Venezuela,” explained Jaime Brito, executive director of refining and oil products at OPIS.

“From a market perspective, additional volumes of extra-heavy crude entering the U.S. refining system would be an extraordinarily positive development,” Brito said. “It would allow refiners to operate more efficiently, something they haven’t been able to do for years and could help keep gasoline and diesel prices at better levels because refiners would have access to cheaper crude and more optimal operations.”

‘WE BUILT VENEZUELA’S OIL INDUSTRY:’ TRUMP VOWS US ENERGY RETURN AFTER MADURO CAPTURE

He added that tankers could arrive within five to six days if they leave Venezuelan waters on Thursday.

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Because Gulf Coast refineries supply a large share of the nation’s fuel, shifts in how efficiently they operate can ultimately ripple through to prices paid by U.S. consumers.

Texas oil refineries are poised to benefit from additional crude oil supplies. (Brandon Bell/Getty Images)

The arrival of 15 to 25 oil tankers carrying up to 50 million barrels of crude is only a fraction of what Venezuela could ultimately supply.

With more than 300 billion barrels of proven reserves, it holds the world’s largest oil endowment — eclipsing long-standing energy heavyweights like Saudi Arabia, Iraq and Kuwait.

Despite its vast reserves, U.S. sanctions have effectively blocked most Venezuelan crude from reaching the U.S. Gulf Coast, leaving Chevron — operating under a special authorization — as the sole exporter of limited volumes.

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US NOW IN CONTROL OF VENEZUELA’S OIL RESERVES, THE LARGEST IN THE WORLD

A Chevron Corp. flag flies on the drilling floor of a Nabors Industries Ltd. drill rig in the Permian Basin near Midland, Texas, on March 1, 2018. (Daniel Acker/Bloomberg/Getty Images)

That disruption has been felt most acutely in Texas, which anchors the nation’s refining hub and hosts several of the country’s largest heavy-crude refineries.

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A renewed flow of Venezuelan barrels could also intensify competition in the heavy-crude market, particularly between Venezuela and Canada, Brito said.

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“You’re going to have fierce competition between Canada and Venezuela, which benefits American refiners and gives them more flexibility to potentially lower fuel prices,” he said, adding that he was speaking strictly from an oil-market perspective.

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Los Angeles, Ca

Armed home invasion in L.A.’s Fairfax District leaves resident assaulted

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Armed home invasion in L.A.’s Fairfax District leaves resident assaulted

A resident was assaulted after two armed suspects forced their way into a home in Los Angeles’ Fairfax District early Saturday morning, police said.

The home invasion robbery was reported around 4:32 a.m. in the 800 block of North Detroit Street, according to the Los Angeles Police Department.

Police said two suspects, both described as adult males, entered the property while armed with handguns.

The resident was assaulted during the confrontation, though authorities did not immediately release information about the victim’s injuries.

  • LAPD officers and patrol vehicles outside a residential property on North Detroit Street in Los Angeles following a reported armed home invasion robbery in June 2026.
  • LAPD officers and patrol vehicles outside a residential property on North Detroit Street in Los Angeles following a reported armed home invasion robbery in June 2026.

Investigators said the suspects stole jewelry and cell phones before fleeing the area in an unknown vehicle.

Video from the scene showed LAPD officers investigating outside a modern residential property as daylight broke Saturday morning. Several patrol vehicles were parked nearby while officers canvassed the area.

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No arrests had been announced as of Saturday afternoon.

Anyone with information about the robbery is urged to contact the LAPD.

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Los Angeles, Ca

Woman, man found shot to death in Pomona, suspect leads officers on erratic chase

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Woman, man found shot to death in Pomona, suspect leads officers on erratic chase

Loved ones are devastated after a woman and a man were found shot to death at a Pomona apartment complex and the woman’s boyfriend was arrested after leading officers on a dangerous pursuit.

On Friday, friends and family gathered outside the Pomona apartment complex where Veronica Lopez, 24, and Richard Brady, 48, were found fatally shot.

On June 18, Pomona police were called to the Monterey Station Apartments at 180 E. Monterey Ave. just before 3:30 p.m. on reports of a shooting.

Officers made their way up to a fourth-floor apartment hallway where they found two victims suffering from gunshot wounds.

  • Veronica Lopez, 24, is seen in a family photo.
  • Richard Brady, 48, is seen in a family photo.
  • Armed and dangerous Pomona pursuit
  • Armed and dangerous pursuit
  • Pomona double homicide arrest
  • Pomona double homcide
  • Pomona double homicide arrest
  • Loved ones gathered at a growing memorial outside the Pomona apartment complex where the victims and the suspect all lived on June 19, 2026. (KTLA)
  • A 48-year-old man was arrested in connection to a double homicide in Pomona after a lengthy and dangerous high-speed chase on June 18, 2026. (KNN News)
  • Veronica Lopez, 24, is seen in a family photo.
  • Veronica Lopez, 24, is seen in a family photo.
  • Pomona double homicide arrest

Despite life-saving measures, both were pronounced dead at the scene. The suspect and Veronica’s boyfriend, Robert Galtman, 48, had fled the scene in a Kia sedan.

Around 5 p.m., California Highway Patrol officers spotted his vehicle on the freeway and he led them on a high-speed, hour-long chase before officers successfully performed a PIT maneuver that disabled his vehicle. He surrendered and was taken into custody. 

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Friends and family members are devastated over the victims’ deaths and have so many unanswered questions.

“I don’t understand,” said Sheila Lopez, Veronica’s mother. “She didn’t deserve this.”

Sheila had spoken to her daughter just hours before the deadly shooting. She told her daughter she would call her later after work, but when she did, her daughter never answered the phone.

Her family later learned that Veronica had been shot and killed and that her boyfriend of several years, Galtman, was under arrest.  

Lopez’s family said that Veronica was in an abusive relationship and they believe she was trying to leave her boyfriend when she was killed. They had also previously urged her to leave.

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“I believe she was walking away,” Sheila told KTLA’s Lindsey Pena. “I think she should’ve just walked away. This is why this all happened.”

They also believe the other victim, Brady, was likely just trying to help her. Brady’s close friend and the mother of his child, Heather Cantu, agreed, saying helping others in a situation like that is something he would’ve done.

“I just think that if she was in an abusive relationship, that’s what he was doing,” Cantu said.

  • Richard Brady, 48, is seen in a family photo.
  • Richard Brady, 48, is seen in a family photo.

His brother told The Daily Bulletin that he was aware of Veronica’s abusive relationship.

“My brother helped her out of that situation,” he told the outlet. “They became friends. My brother stuck up for those who couldn’t stick up for themselves. Unfortunately, he walked into a situation out of his control.”

Cantu described him as a loving father to two children and a kind man and who will be greatly missed. 

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“We’ll all remember how happy he made everybody,” Cantu said. “He was a jokester. He was always happy and he always tried to make everybody else feel good.”

On Friday night, loved ones gathered at a growing memorial outside the Pomona apartment complex where the victims and the suspect all lived.

Sheila said Veronica was the youngest of her five daughters, who always lit up a room and brought joy to those around her.

  • Loved ones gathered at a growing memorial outside the Pomona apartment complex where the victims and the suspect all lived on June 19, 2026. (KTLA)
  • Loved ones gathered at a growing memorial outside the Pomona apartment complex where the victims and the suspect all lived on June 19, 2026. (KTLA)
  • Loved ones gathered at a growing memorial outside the Pomona apartment complex where the victims and the suspect all lived on June 19, 2026. (KTLA)
  • Sheila Lopez, (on right) Veronica Lopez's mother, speaks to KTLA in Pomona on June 19, 2026. (KTLA)

“She’s definitely someone to miss,” Sheila said. “She’s a great skateboarder. She loves to go to games and she loves her family.”

In a GoFundMe page, loved ones said Veronica “had a way of making everyone around her feel loved and valued. The pain of losing her is unimaginable, and our hearts are broken.”

Galtman remains in custody on $3.1 million bail.

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A GoFundMe page to help Veronica’s family with funeral expenses can be found here.

A GoFundMe page to help Brady’s family with funeral expenses can be found here.

The investigation remains ongoing. Anyone with additional information is asked to call the Pomona Police Department’s Detective Bureau at 909-620-2085.

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Los Angeles, Ca

Victims sought after man allegedly points gun at passing cars in Santa Clarita Valley

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Victims sought after man allegedly points gun at passing cars in Santa Clarita Valley

The Los Angeles County Sheriff’s Department is asking for the public’s help finding witnesses after a man allegedly pointed a handgun at numerous passing cars in Castaic on June 18.

The man was allegedly seen pointing the gun at cars near Lake Hughes Road and Ridge Route Road between 6 p.m. and 6:30 p.m. The suspect was described as wearing a red shirt and black shorts.

Authorities provided a photo of the man seen running in the street while holding something in his left hand.

Anyone who may have witnessed the alleged assaults, is a victim of the incident or has information about the case is asked to call Detective Marinelli at (661) 260-4000 ext. 5618.

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