December 17, 2025: Oil Prices Rise After Trump's Decision to Blockade Venezuelan Tankers

Oil prices rose amid growing concerns about demand following the announcement by U.S. President Donald Trump of a "full and comprehensive" blockade on all sanctioned oil tankers entering or leaving Venezuela.

On Tuesday evening, President Donald Trump issued orders to ban and blockade all sanctioned oil tankers entering or exiting Venezuela, stating that his administration considers the Venezuelan government a "foreign terrorist organization."

Brent crude futures rose 70 cents, or 1.2 percent, on Wednesday, reaching $59.62 per barrel by 00:22 GMT.

U.S. West Texas Intermediate crude also increased by 73 cents, or 1.3 percent, to reach $56 per barrel.

China is the largest importer of Venezuelan crude oil, with imports accounting for about 4 percent of its total crude oil imports.

Experts note that prices are currently volatile due to news from Venezuela, although Venezuelan exports represent only a relatively small portion of the global oil supply.

On Wednesday, the Venezuelan Interior Ministry sent an official letter to the United Nations Security Council accusing the United States of "piracy" for detaining a Venezuelan oil tanker.

The Interior Ministry stated in its letter that U.S. forces seized an oil tanker along with its crew and illegally confiscated a shipment of Venezuelan oil.

On December 11, Trump announced the seizure of an oil tanker off the coast of Venezuela, noting that the operation was "for good reason" and that they would retain possession of it.

Tensions have escalated recently between the United States and Venezuela. In August, Trump issued an executive order increasing military involvement under the pretext of "combating drug cartels" in Latin America.

In this context, Washington announced the deployment of warships and a submarine off the coast of Venezuela, while U.S. Secretary of Defense Pete Hegseth stated that the military is ready for operations, including regime change in Venezuela.

In response, President Maduro announced the mobilization of forces totaling 4.5 million people in Venezuela and readiness to repel any potential attack.

The attacks carried out by the U.S. military on boats in the Caribbean Sea and the Pacific Ocean, alleging drug smuggling and directly targeting people on board, have sparked controversy over "extrajudicial killings" in the international community.