U.S. Seizes Oil Tanker: Escalating Tensions with Venezuela

The U.S. has seized an oil tanker near Venezuela, inciting higher oil prices and potentially increasing tensions between Washington and Caracas. The operation, led by the U.S. Coast Guard, involved significant military presence in the region. This development challenges Venezuela's oil-dependent economy amid ongoing instability.

The United States has seized an oil tanker off the coast of Venezuela, according to three unnamed officials who spoke to Reuters on Wednesday. This strategic move caused a spike in oil prices and is anticipated to further aggravate tensions between Washington and Caracas.

President Donald Trump has directed a substantial U.S. military presence in the region, involving an aircraft carrier, fighter jets, and thousands of troops. Officials revealed this operation was spearheaded by the U.S. Coast Guard, although details concerning the tanker's identity and the specifics of the operation remain undisclosed. Following the seizure, oil futures, previously trading negatively, saw an uptick; with Brent crude futures rising to $62.35 per barrel.

In response, the U.S. Coast Guard deferred all questions to the White House, which has yet to issue a statement. Similarly, the Venezuelan government has not commented. Despite ongoing pressures on Venezuelan President Nicolas Maduro, the U.S. hadn't previously disrupted the nation's oil exports. These exports are crucial, serving as Venezuela's primary revenue stream amidst global oil market challenges.

(With inputs from agencies.)