Oil price gains after US interception of Venezuelan oil tanker over weekend
December 22, 2025 05:46 am
Oil prices gained on Monday in early Asian trading hours after the U.S. intercepted a Venezuelan oil tanker over the weekend.
The U.S. is also pursuing another tanker, officials told Reuters on Sunday, in what would be the third such operation in less than two weeks if it succeeds.
U.S. West Texas Intermediate crude was up 34 cents, or 0.6%, at $56.86 per barrel as of GMT 2323.
The US Coast Guard is in “active pursuit” of another vessel in international waters near Venezuela as tensions in the region continue to escalate.
Sunday’s pursuit related to a “sanctioned dark fleet vessel that is part of Venezuela’s illegal sanctions evasion”, a US official said. “It is flying a false flag and under a judicial seizure order.”
Washington has accused Venezuela of using oil money to fund drug-related crime, while Venezuela has described the tanker seizures as “theft and kidnapping”.
US President Donald Trump last week ordered a “blockade” of sanctioned oil tankers entering and leaving the country.
Venezuela - home to the world largest proven oil reserves - has accused the Trump administration of trying to steal its resources.
US authorities have not yet officially confirmed Sunday’s pursuit, and the exact location and name of the tanker involved is not yet known.
As of last week, more than 30 of the 80 ships in Venezuelan waters or approaching the country were under US sanctions, according to data compiled by TankerTrackers.com.
- Agencies
