Venezuelan Supply Disruptions Support Oil Prices Amid Rising U.S. Pressure

Venezuela is facing increasing risks of reducing its oil production in the coming days amid escalating U.S. restrictions on oil tanker movements, leading to export disruptions and storage facilities nearing full capacity.

The tightening of Washington's measures against tankers linked to Venezuelan oil exports has caused a sharp slowdown in shipping activity from major ports, resulting in crude accumulation within the country. With limited storage capacity, the Venezuelan national oil company may be forced to cut production or temporarily shut some wells if these disruptions continue.

Additionally, the United States has intensified pressure on Venezuela's energy sector by imposing direct restrictions on the entry and exit of sanctioned oil tankers, aiming to tighten the squeeze on the government's main revenue sources. Consequently, many ships have stopped or altered their routes amid fears of legal actions or cargo seizures.

Meanwhile, some limited shipments continue, particularly those related to special exemptions, but these volumes are insufficient to ease the mounting pressure on storage facilities, especially for heavy crude types that require processing and blending before export.

These developments have impacted global markets, with oil prices supported by concerns over potential declines in Venezuelan supplies, as markets monitor any signs of reduced availability, particularly amid ongoing geopolitical tensions and fluctuating production levels in several producing countries.

The Venezuelan government described the U.S. measures as unjustified escalation and a direct threat to the national economy, affirming that the restrictions on oil exports will increase financial pressures and limit foreign currency inflows in an economy already suffering from structural imbalances and high inflation rates.

In parallel, West Texas Intermediate crude recorded a notable rise, reaching $56.14 per barrel at the time of writing.

Based on the daily timeframe, the pivot point stands at $56.14 per barrel. If this point is breached upwards, the price may test levels of $57.18 and then $57.84, reaching the third resistance at $61.24.

In the bearish scenario, if the pivot point breaks downwards, prices may decline towards $55.47 and then $54.43 before reaching the third support level at $52.73 per barrel.

Continued restrictions on oil shipping movements, along with storage capacity nearing full, could lead to a significant drop in Venezuela's production in the near term, which may have broader implications for global energy market balances if these measures persist.

Regarding commodity markets, these developments have refocused attention on gold, which has seen prices rise for the second consecutive week to levels around $4,300 per ounce. During this period, investors await important U.S. economic data releases that could reshape monetary policy expectations for the coming year.