The United States implements a naval blockade, causing more oil tankers to bypass the Venezuelan route.

As the United States threatened to detain ships transporting oil, more and more tankers are deviating from the Venezuelan route. Ship tracking data from Friday showed that at least seven ships changed course or anchored at sea. Prior to this, four ships immediately changed direction after the US military boarded the "Skipper" tanker in mid-December. US President Trump accused Venezuela of using oil revenue to fund a series of criminal activities, including drug trafficking and terrorism. As part of Trump's pressure campaign, the US military launched attacks on suspected drug trafficking ships, resulting in over 100 deaths and the detention of two tankers. The detained "Skipper" and "Centuries" tankers are currently anchored near the coast of Texas. Venezuela denies these accusations and calls US actions illegal. Another sign of escalation is the US claiming to have attacked a facility in Venezuela believed to be used for drug trafficking. In addition, the US imposed sanctions on four Chinese companies and four ships related to Venezuela's crude oil trade. The total capacity of the ships avoiding the Caribbean Sea region is 12.4 million barrels of crude oil. Data shows that four ships have changed course, while three others remain stranded at sea. With ships avoiding Venezuela, the country's oil storage tanks are nearing full capacity, forcing the Venezuelan state oil company (Petroleos de Venezuela SA) to shut down some oil wells. Oil production in Venezuela's main oil-producing Oriente Basin fell by 25% on December 29 compared to mid-December. Any interruption in oil exports will further exacerbate Venezuela's already dire economic pressures, as the country has suffered from US oil sanctions for seven years. Oil is the lifeblood of Venezuela's economy, with almost all essential goods depending on it, from food to medicine. Meanwhile, US oil giant Chevron continues to extract Venezuelan oil according to the license obtained from the US Treasury Department. The US blockade actions (including interceptions and detentions of tankers) have increased geopolitical risks in the market. Analysts point out that while Venezuela's export scale is limited in the global market, the use of military blockade of an important oil-producing country marks a more volatile phase in energy politics. Currently, the situation in Venezuela is expected to add a risk premium of about $1-2 per barrel of oil. Despite the tense geopolitical situation, the global oil market is facing a serious oversupply by 2026 (with surplus estimated to be between 1.3 to 3.8 million barrels per day), serving as a "shock absorber" for prices.