The development suggests that the White House is planning a broader campaign against Venezuela’s oil exports. The U.S. seized a tanker on Wednesday that had allegedly transported oil from Venezuela to Iran.
The oil market has been focused on Ukraine peace talks and so far is not indicating a risk of a major supply disruption. U.S. crude oil was last down $1.04, 1.78%, to $57.42 a barrel. Global benchmark Brent was at $61.11, down $1.10, or 1.77%.
china has already proven that it won’t step in to save venezuela and the tanker they seize this tanker because it’s part of the black fleet that has been keeping russia’s economy going despite the sanctions.