US forces have seized an oil tanker, reportedly named the Skipper, off Venezuela's coast. Satellite imagery and photos reveal the vessel may have faked its location, broadcasting false data while offloading oil.

The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half.

Venezuela’s foreign affairs minister denounced the seizure, calling it a “blatant theft” and “an act of international piracy.”

Daily rates for chartering vessels to transport crude oil, LNG, iron ore, and wheat have surged dramatically in 2025 due to route disruptions, sanctions, and tight supply, with oil tanker rates skyrocketing by 467%.

By Jonathan Saul, Marianna Parraga and Matt Spetalnick HOUSTON/LONDON/WASHINGTON, Dec 11 (Reuters) - The U.S. is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week,

US forces have seized an oil tanker off the coast of Venezuela in a "serious escalation" of hostilities between the two countries. Donald Trump confirmed the news during a White House meeting. It comes after the US president warned last week that military strikes on land targets inside Venezuela would "start very soon" as Washington ramps up its "war on drugs" in Latin America.

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Russia's Foreign Ministry said on Thursday it hoped that U.S. President Donald Trump's administration would not make a fatal mistake over Venezuela and said Moscow was concerned about U.S. decisions that threatened international shipping.