Venezuela, Oil Tanker
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Venezuela's parliament on Tuesday approved a measure that would criminalize a broad range of activities that can hinder navigation and commerce in the South American country, such as the seizure of oil tankers.
Crude futures pick up from early losses and add to yesterday’s gains as the U.S. steps up actions in the Caribbean to cut off Venezuela’s oil trade and increase pressure on the country’s strongman Nicolás Maduro.
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Trump’s Venezuelan-Tanker Gamble
Maduro’s government has called the U.S. behavior “theft” and “an act of international piracy,” and filed a complaint with the United Nations Security Council. Maduro also ordered the Venezuelan navy to escort tankers headed to Asia.