Oil prices rise on fears of supply disruptions from Venezuela - Reuters

Futures for Brent crude had risen by 43 cents, or 0.70%, to 61.71 dollars per barrel by 03:52 GMT, and US West Texas Intermediate crude was priced at 58.03 dollars per barrel, up 43 cents, or 0.75%.

Both benchmarks fell by roughly 1.5% on Thursday, December 11.

According to the agency's sources, the United States is preparing to intercept more vessels carrying Venezuelan oil after seizing a tanker this week, as this increases pressure on Venezuelan President Nicolás Maduro.

This has raised concerns about supply disruptions.

Analysts note that peace negotiations between Russia and Ukraine remain a key factor. If successful, the price of West Texas Intermediate crude could fall to as low as 55 dollars per barrel.

Over the week, both contracts have dropped by more than 3%, reflecting overall uncertainty.

The US Federal Reserve's decision to cut interest rates has added uncertainty regarding future oil demand.

Meanwhile, forecasts for the global market balance in 2026 are contradictory: the International Energy Agency expects a significant oversupply, while the Organization of the Petroleum Exporting Countries predicts a balance between supply and demand.

An additional factor was the shutdown of an oil platform in the Caspian Sea following a Ukrainian drone strike, which also influenced market sentiment.

Escalation between the United States and Venezuela

On December 10, US forces intercepted and took control of an oil tanker under sanctions near the coast of Venezuela.

The seizure of the tanker could seriously complicate Venezuelan oil exports, as other shippers may avoid loading its cargoes due to the risk of sanctions.

Most Venezuelan oil is exported to China, usually through intermediaries, at significant discounts due to the risks associated with US restrictions.

In addition, according to media reports, the United States plans to intercept new batches of vessels transporting Venezuelan oil.