Caribbean
Oil prices surged sharply today as the United States stepped up enforcement of sanctions on Venezuelan crude, pursuing a second tanker in the Caribbean. The move has heightened concerns about supply disruptions and added volatility to global energy markets.
Brent crude rose above $61 per barrel, while West Texas Intermediate climbed past $57, reflecting traders’ fears over potential interruptions in shipments from Venezuela. The U.S. Coast Guard confirmed that it is actively tracking a tanker believed to be transporting oil in violation of sanctions, marking the latest escalation in maritime enforcement efforts.
Officials say the campaign targets ships suspected of carrying illicit Venezuelan oil, with Washington citing national security concerns. The first tanker seized last week underscored the administration’s commitment to blocking shipments that evade sanctions. Industry sources report that a third vessel may also be under surveillance.
Venezuela’s government denounced the moves as “piracy,” while Beijing criticized the U.S. actions as a breach of international law, highlighting the geopolitical sensitivities surrounding the Caribbean oil corridor. Analysts say that although Venezuela accounts for a relatively small portion of global supply, any sustained disruption can ripple through markets already affected by global conflicts and trade tensions.
The situation underscores growing investor concern over geopolitical risks in oil-producing regions. Traders are closely monitoring the movements of sanctioned tankers, and any further interventions could maintain upward pressure on prices in the weeks ahead.
With the U.S. reinforcing its naval presence in the Caribbean and sanctions enforcement intensifying, energy markets are expected to remain volatile, keeping both producers and consumers on alert.
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