Khaberni - Reuters reported that a Russian oil tanker carrying oil for the Venezuelan state oil company PDVSA, and at least four giant tankers which were headed to load crude oil shipments in Venezuela, turned back after the United States seized a ship carrying Venezuelan oil last week, according to ship monitoring data that was issued on Monday.
Last week, the U.S. Coast Guard intercepted a giant oil tanker (VLCC) carrying about 1.85 million barrels of Venezuelan heavy crude oil sold by PDVSA and seized it, in a sign of escalating tensions between Venezuela and the United States, which have intensified pressure on President Nicolas Maduro.
In a related context; oil prices stabilized on Monday as investors weighed the impact of supply disruptions stemming from rising tensions between the United States and Venezuela, against concerns about an oversupply and the effect of a potential peace deal between Russia and Ukraine.
By 13:01 GMT, Brent crude futures had fallen 20 cents or 0.33% to $60.92 a barrel, while West Texas Intermediate crude in the U.S. dropped 21 cents or 0.3% to $57.59 a barrel.
Futures for both types of crude had fallen more than 4% over the past few days, amid expectations of a global oil surplus in 2026.
John Evans, an analyst at (PVM), said "The gradual decrease in oil prices, recording their lowest levels since the beginning of the month across all major futures markets last week, could have led to further negative pricing had it not been for the U.S. escalation of the situation in relation to Venezuela."
Venezuela’s oil exports have sharply decreased since the United States earlier detained an oil tanker and imposed new sanctions on shipping companies and vessels dealing with the oil-producing state located in Latin America, according to shipping data, documents, and maritime sources.
The market is closely monitoring developments and their impact on oil supplies, and Reuters reported that the United States plans to intercept more ships carrying Venezuelan oil following the detention of the oil tanker, increasing pressure on President Nicolas Maduro.
