On Tuesday, President Trump on Truth Social ordered a "total and complete blockade" of all sanctioned oil tankers entering and leaving Venezuela, in a major escalation of his pressure campaign against the country's leader, Nicolás Maduro.

U.S. 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.

Crude oil futures fell for the third straight session, with the market watching for progress in Russia-Ukraine peace efforts and concerned about global oversupply.

Crude oil rebounds as Venezuela’s tanker blockade and a sharp U.S. inventory draw lift prices, shaping a cautious bullish oil outlook for traders.

Crude oil prices rise; trade strategy suggests going long if futures break ₹5,500 resistance for potential gains.

Oil futures settled at their lowest level since February 2021 on Tuesday amid ongoing jitters surrounding oversupply and as the prospect of a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased.

Crude futures moved deeper into the red with the market concerned about oversupply and watching for progress in Russia-Ukraine peace efforts.

Roxanna Vigil, Council on Foreign Relations International Affairs Fellow, talks about President Donald Trump's order to blockade sanctioned oil tankers in Venezuela, and the ramifications it could have on the country's economy,