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Oil rises over 1% as Trump's Venezuela blockade stokes uncertainty
The U.S. naval blockade targets sanctioned Venezuelan oil tankers to pressure Maduro’s regime, risking disruption of up to 850,000 barrels per day, mainly shipped to China.
- On Wednesday, President Donald Trump ordered a `total and complete` naval blockade of sanctioned Venezuelan oil tankers, pushing West Texas Intermediate crude up more than 1% to $55.96.
- The escalation is part of a broader campaign aimed at Venezuela's oil-dependent economy, following a sanctioned oil tanker seizure last week by U.S. forces and labeling Maduro's government a `foreign terrorist organization`.
- Targeting the shadow fleet could remove a measurable share of Venezuela's roughly 850,000 barrels per day exports to China, potentially tightening global supply by 1 to 2 percent despite common evasion tactics, traders say.
- As of December 17 the move provided a short-term market jolt, but sustainability is uncertain as analysts watch Nicolás Maduro, President of Venezuela's retaliation and the U.S. Navy's deployment scale.
- Industry forecasts point to an oversupply next year driven by record U.S. production at 13.5 million bpd, resilient OPEC+ flows and weaker Chinese demand, with inventories growing through 2026.
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CODEPINK affirms that Trump’s demand for Venezuela to “return” oil, land and assets to the US reveals the true goal of aggression, and recalls that Venezuela defends its resources
Why Trump's blockade might wreck Venezuelan economy but not topple Maduro : Here & Now Anytime
President Trump has ordered a complete blockade on "all sanctioned oil vessels” in and out of Venezuela. Rice University professor Francisco J. Monaldi explains how the move, if enforced strictly, could devalue local currency, increase inflation and contribute to political instability in Venezuela.Then, a Hong Kong court convicted former media mogul and pro-democracy supporter Jimmy Lai on national security charges. He faces life in prison. Lai’…
·Washington, United States
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Total News Sources42
Leaning Left7Leaning Right3Center9Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 37%
C 47%
R 16%
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