Venezuela Oil Blockade Ordered by Trump Affects Global Markets

Shares advanced in Europe and Asia as the price of U.S. crude oil surged more than 2% following President Donald Trump's order for a blockade of all sanctioned oil tankers into Venezuela, according to The Seattle Times.

This decision came after U.S. forces seized an oil tanker off Venezuela's coast, increasing military pressure on President Nicolas Maduro's regime, which Trump labeled a terrorist group. The blockade has raised concerns about oil supply disruptions, pushing crude prices higher, with U.S. crude briefly trading at $56.26 per barrel and Brent crude at $59.88 per barrel.

Meanwhile, major stock indexes showed mixed performance, with the S&P 500 edging up 0.1%, reflecting uncertain economic conditions amid fluctuating oil prices and ongoing inflationary pressures.