Trump Orders Total Blockade on Venezuelan Oil Tankers, Causing Oil Prices Surge and Energy Stocks Rally
President Donald Trump ordered a total and complete blockade of sanctioned oil tankers entering and leaving Venezuela, significantly escalating U.S. pressure on the country. This move caused Brent crude oil prices to jump above $60 per barrel and U.S. West Texas Intermediate prices to rise around 2%. Shares of major energy companies like Shell, BP, TotalEnergies, Eni, and Repsol also saw notable gains. The blockade raises concerns about prolonged supply disruptions affecting Venezuela's oil exports, which amount to approximately 590,000 barrels per day, mostly destined for China.