{"id":"f-e550251d2f-c7e18203-cca9-5600-a7e9-adb3c471c5c0","title":"US crude futures jump in Asia trade on Trump's Venezuela blockade","description":"The West Texas Intermediate contract was up 98 cents, or 1.75%, at $56.92 per barrel as of 1109 GMT.","timestamp":1766029730,"category":"international","headline":"US crude futures jump in Asia trade on Trump's Venezuela blockade","modifiedHeadline":"US Crude Prices Rise After Venezuela Blockade","subCategories":["scid_edbc7f13"],"region":"IN","bundleMetaData":{"bundleId":"c80449a0-0ad6-472b-8d17-5747dd8f5c83","bundleTitle":"Around the globe","cardData":null},"iabCategoryId":"73","fcSummary":"Oil prices rose after trump ordered a blockade of venezuelan oil tankers, raising supply disruption concerns. wti crude futures increased by 1.75% to $56.92 per barrel. the blockade impacted venezuela's exports, despite pdvsa resuming operations after a cyberattack.","summary":"US crude futures surged in Asia, fueled by Trump's Venezuela blockade, with West Texas Intermediate up 1.75% at $56.92 a barrel.","ctaUrl":"https://trends.glance.com/newz/Economy/IN/en/cnbc-tv18/f-e550251d2f-c7e18203-cca9-5600-a7e9-adb3c471c5c0","sourceUrl":"https://www.cnbctv18.com/market/us-crude-futures-jump-in-asia-trade-on-trump-venezuela-blockade-19794684.htm","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/nzE4ynNiPQ50.webp","content":"US crude futures opened a dollar higher in Asian trading on Thursday after President Donald Trump placed a blockade on tankers entering and leaving Venezuela and most exports from the country remained on hold.\n\n
\n
\n The West Texas Intermediate contract was up 98 cents, or 1.75%, at $56.92 per barrel as of 1109 GMT.\n
\n
\n Trump on Tuesday had ordered a blockade of all sanctioned oil tankers entering and leaving Venezuela, calling President Nicolas Maduro's administration a foreign terrorist organization.\n
\n
\n Sources said most Venezuelan exports remained on hold on Wednesday due to the blockade even though Venezuelan state oil company PDVSA restarting loading crude and fuel cargoes after it had had to suspend operations because of a cyberattack. Chevron vessels were continuing to depart for the US.\n\n
\n
\n \"While enforcement details remain unclear, the unexpected escalation in US pressure against the Maduro regime has sparked supply disruption concerns and triggered short covering in an oversold market,\" IG market analyst Tony Sycamore said in a note.\n
\n
\n The news prompted oil prices to rise by more than 1% in the previous session, rebounding from five-year lows driven by progress on Ukraine peace talks that seemed to point the way to a potential easing of Russian sanctions.","readDurationInMinutes":"2","author":{"name":"CNBC TV18","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/ecc3d19b-fc52-4a39-881c-5b0936ae723b.jpeg"},"ism":false,"analyticsResponses":[{"measurementId":"383191425","type":"COMSCORE"}],"pointerSummary":["Trump blockades Venezuela oil tankers, citing Maduro regime as terrorist.","Venezuelan oil exports mostly halted post-blockade, PDVSA restarts some loading.","Oil prices rise due to supply disruption fears after the US action."],"tags":["USCrude","OilPrices","VenezuelaBlockade","DonaldTrump","NicolasMaduro","PDVSA","WestTexasIntermediate","WTI","Energy","OilMarket","SupplyDisruption","Chevron","UkrainePeaceTalks","RussianSanctions","TonySycamore","IGMarket"],"consent":true,"redirectionEnabled":false}

US crude futures jump in Asia trade on Trump's Venezuela blockade

SUMMARY