Oil Gains Amid Rising US-Venezuela Tensions

2025-12-22 01:27 By Judith Sib-at 1 min. read

WTI crude oil futures rose 1% toward $57 per barrel on Monday, extending Friday’s gains as mounting tensions between the US and Venezuela fueled concerns over supply disruptions.

The US is reportedly pursuing another vessel near Venezuelan waters, intensifying President Trump’s blockade of the country.

Washington has already seized two oil tankers this month, one of them on Saturday.

Attention is also on Eastern Europe, where Ukraine struck a Russian tanker in the Mediterranean Sea for the first time, following prior attacks on Lukoil facilities in the Caspian Sea.

These attacks come amid ongoing efforts to end the war between the two nations.

On Sunday, US and Ukrainian officials said their talks in Miami was “productive and constructive,” though no apparent breakthrough was announced.

Despite these geopolitical factors supporting oil prices, crude oil remains on track for an annual decline, weighed down by expectations of an oversupplied market.



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