Overview
- U.S. officials said forces intercepted a Venezuelan-linked tanker over the weekend and are pursuing a second vessel in international waters near Venezuela.
- The Coast Guard boarded the Centuries, carrying about 2 million barrels of crude, and is tracking the Bella 1 in what would be a third operation in under two weeks.
- The actions extend a campaign that began with the Dec. 10 boarding of the Skipper after President Donald Trump announced a “total and complete” blockade on sanctioned tankers.
- Brent rose to about $60.91 a barrel and WTI to $56.92 in early Monday trade as traders priced a higher geopolitical risk premium, including after a Ukrainian drone strike on a Russian shadow-fleet vessel.
- Venezuela’s exports account for less than 1% of global demand, and analysts say any price lift from enforcement and regional tensions faces limits from oversupply expectations.