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Crude oil futures settle higher amid US-Venezuela tensions

18 Dec 2025 Evaluate

Crude oil futures ended higher on Wednesday amid escalating geopolitical tensions between the US and Venezuela. Crude oil prices made a significant recovery after US President Donald Trump ordered a blockade of sanctioned oil tankers in Venezuela. He declared the government of President Nicolas Maduro a foreign terrorist organization and said he was ordering a 'total and complete blockade of all sanctioned oil tankers' going and leaving Venezuela.

Benchmark crude oil futures for January increased $0.67 or 1.21% at $55.94 a barrel on the New York Mercantile Exchange. Brent crude for February delivery surged $0.76 or 1.29% to settle at $59.68 a barrel on London's Intercontinental Exchange.

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