US EditionOil rises over 1% as Trump's Venezuela blockade stokes uncertainty
The U.S. blockade targets Venezuelan oil tankers to pressure Maduro's regime, contributing to a 1% rise in oil prices amid fears of supply disruption, officials said.
- 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.
105 Articles
105 Articles
Trump’s goal is to cut income from Maduro’s government, but some analysts believe the measure could deepen the economic crisis in Venezuela
U.S. President Donald Trump said Wednesday that the U.S. naval deployment on the coast of Venezuela is only a blockade, in the face of reactions from some Democratic congressmen who tried to prevent a possible military escalation with the Latin American country, although their resolutions were rejected by the U.S. House of Representatives.This was only a little before he offered his expected speech to the nation, as he was supposed to announce a…
By Mauricio Torres, CNN en Español The decision of the United States to make a “total and complete blockade” of sanctioned oil vessels arriving or leaving Venezuela represents the most recent step of President Donald Trump to increase pressure on the government of Nicolás Maduro. Moreover, according to some analysts, it is a measure that could have major impacts on the economy of the South American country, which mainly depends on oil. The annou…
Venezuela's dictatorial regime ordered its Navy to escort ships carrying oil derivatives, a few hours after President Donald Trump announced that his administration would impose a blockade on sanctioned oil tankers operating with the South American country. This was reported by The New York Times, citing maritime tracking data and sources familiar with the situation.Read more]]>
Caracas, Venezuela.- The Venezuelan government ordered its Navy to escort ships transporting petroleum products from the port, which increases the risk of a confrontation with the United States after President Donald Trump ordered a "block" aimed at the country's oil industry. Several ships sailed from the east coast of the country with naval escort between Tuesday night and Wednesday morning, according to three people familiar with the matter. …
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