At least 34 U.S.-sanctioned oil tankers with a history of carrying Venezuelan oil are currently at sea in the Caribbean, according to an analysis from Kpler. At least 12 of those tankers appear to be filled with crude oil from Venezuela, according to vessel location data from Kpler, a global trade intelligence company.
Commercial crude oil stocks fell by 1.3 million barrels to 424.4 million barrels last week as exports increased and refineries stepped up their capacity use, said the U.S. Energy Information Administration.
President Donald Trump said he ordered a "total and complete" blockade of sanctioned oil tankers leaving and entering Venezuela.
Crude oil rebounds as Venezuela's tanker blockade and a sharp U.S. inventory draw lift prices, shaping a cautious bullish oil outlook for traders.
The world has more oil than it needs, but a drop in crude prices this week to the lowest level in nearly five years may help slow production and boost demand.
Oil prices rose more than 1.5% after Trump ordered a total blockade of all sanctioned tankers to and from Venezuela, raising risks of prolonged supply disruptions in the region.
Oil prices rose more than 1.5% on Wednesday after President Trump ordered a total blockade of all sanctioned tankers entering and leaving Venezuela, raising risks of prolonged supply disruptions in the region.
President Donald Trump said he was ordering a blockade of sanctioned oil tankers going into and leaving Venezuela, ratcheting up pressure on Caracas amid a US military buildup in the region and the threat of land strikes. Bloomberg's Stephen Stapczynski reports.
US President Trump has ordered a blockade on all sanctioned oil tankers going in and out of Venezuela, and designated the government a terrorist organization. Josh Young from Bison Interests warns there could be a 'meaningful impact' on oil supply if Trump's announcement translates to enforced policy, especially as tensions between both countries look on track to escalate.
Natural gas and oil prices rebound on geopolitical risk, but rising OPEC+ supply and weak demand keep the broader energy outlook cautious.
Oil rose in Asia's morning session on a likely technical recovery after oil futures fell to almost five-year lows overnight.
The 'Fast Money' traders talk crude oil hitting lowest levels since 2021.