Trump's Venezuela Blockade Boosts Oil Prices
Update: 2025-12-17
Description
Crude oil prices surged this week following former President Trumps announcement of a complete block on sanctioned oil tankers in and out of Venezuela. U.S. crude rose by nearly 2% to $56.30 per barrel, while Brent crude also increased, reversing a recent downward trend. This rebound comes after U.S. crude had fallen to nearly four-year lows due to potential peace in Ukraine and increased Russian oil supply. However, Trumps stance against Venezuelas Maduro is shifting market sentiment, with the ongoing situation continuing to impact global oil prices and market stability.
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