Oil prices rose on Monday following the US interception of an oil tanker near Venezuela over the weekend, raising fears of potential supply disruptions.
Brent crude climbed about 0.7–0.9 percent to roughly $61 per barrel, while West Texas Intermediate also gained. The US Coast Guard is reportedly pursuing another tanker, reflecting increased enforcement of sanctions on Venezuelan oil. Analysts said geopolitical tensions, including these actions and broader global uncertainties, outweighed oversupply concerns, supporting the market.
Traders remain cautious as Washington maintains a firm stance on Venezuela’s energy exports.