Oil Prices Surge After US Intercepts Tanker Near Venezuela

Oil prices surged after the US intercepted an oil tanker near Venezuela, leading to a 0.73% increase in Brent crude futures and a 0.71% rise in US West Texas Intermediate crude. The incident follows US sanctions on Venezuelan oil tankers, with geopolitical tensions rising.

US officials, including Steve Witkoff, have engaged in talks with European and Ukrainian officials to address the situation. Market analysts express concerns over the impact of the US-Russia-Ukraine peace talks on oil prices.