US Targets Third Venezuelan Oil Tanker as Trump Expands Blockade

TLDR

• US Coast Guard boarded the Centuries tanker in the Caribbean on Saturday carrying 2 million barrels of Venezuelan crude
• US forces are pursuing a second vessel, the Bella 1, which was heading to Venezuela
• This marks the third tanker targeted by the US within weeks as part of Trump’s blockade on Venezuela
• Ukraine hit a Russian shadow fleet oil tanker in the Mediterranean with drones for the first time
• Oil prices rose to around $61 per barrel for Brent crude following the news

Oil prices moved higher on Monday as the United States escalated its enforcement actions against Venezuela’s oil exports. The increase comes after US forces intercepted their third tanker in recent weeks.

The US Coast Guard boarded the Centuries tanker in the Caribbean Sea on Saturday. The vessel was carrying approximately 2 million barrels of Venezuelan crude oil at the time of the boarding.

US forces are also pursuing another ship called the Bella 1. The vessel was en route to Venezuela when authorities began tracking it.

Brent crude prices climbed to around $61 per barrel following the news. The commodity had experienced two consecutive weekly declines before this uptick.

President Trump has made Venezuela a focus of his administration’s foreign policy. Washington designated the Maduro government as a foreign terrorist organization.

The US government accuses Venezuela’s regime of involvement in drug trafficking. The designation allows for broader enforcement actions against the country’s key revenue sources.

Venezuela’s Oil Industry Under Pressure

Venezuela holds the world’s largest crude oil reserves. Despite this resource wealth, the country’s oil production and exports have declined over recent years.

Most Venezuelan oil exports currently go to China. The country now accounts for less than 1% of global oil demand.

The US blockade aims to cut off oil revenue to the Maduro government. This strategy focuses on intercepting tankers carrying Venezuelan crude to international markets.

Russian Oil Transport Also Targeted

Geopolitical tensions affecting oil supplies extended beyond Venezuela. Ukraine struck a Russian shadow fleet oil tanker in the Mediterranean Sea using drones.

This marked the first time Ukraine has hit a Russian oil vessel in the Mediterranean. The country also conducted strikes on Lukoil facilities in the Caspian Sea region.

Russia is a member of OPEC+, the producer group that coordinates output levels. Any disruption to Russian oil transport could affect global supply calculations.

Market Conditions and Price Trends

Oil prices have fallen approximately 20% over the course of 2025. The decline stems from oversupply conditions in the global market.

Both OPEC+ members and non-aligned producers increased their output during the year. This happened while demand growth slowed in major consuming countries.

The recent geopolitical developments have provided some support for prices. The supply risks from Venezuela and Russia helped establish a price floor.

The Bella 1 was reportedly sending distress signals as it traveled northeast from the Caribbean into the Atlantic Ocean.

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