Oil finds support after US seizes another Venezuela-linked vessel

Brent crude’s price has felt some upward pressure following news that the US Coast Guard (USCG) has seized another oil tanker linked to Venezuela.

IMAGE: Getty Images

The USCG said in a statement that the oil tanker Veronica was seized in the Caribbean Sea, as it continues efforts to crack down Venezuela’s “illicit” oil trade.

This marked the sixth Venezuela-linked oil tanker to be seized by US forces, VANDA Insights’ founder Vandana Hari said.

The motor tanker Veronica is allegedly a part of Venezuela’s shadow fleet, according to the USCG. It also shared a video on the social media platform X (formerly Twitter) showing army personnel seizing the vessel.

“Alongside U.S. Sailors and Marines, our maritime fighting force is bringing every capability at our disposal to interdict ghost fleet tankers,” the USCG said.

The move follows the capture of Venezuelan President Nicolás Maduro by US forces in Caracas and ahead of a planned meeting between US President Donald Trump and Venezuelan opposition leader María Corina Machado.

Last month, Trump ordered a “complete and total” blockade of sanctioned oil tankers moving in and out of Venezuela.

By Aparupa Mazumder

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