Oil prices swing wildly amid mixed messages over Iran war

Crude #oil prices fall sharply as energy markets remain on tenterhooks over effective closure of the Strait of #Hormuz.
Oil prices are seeing dramatic swings as traders struggle to make sense of mixed messages about the impact of the United States and Israel’s war on Iran.

Brent crude, the international benchmark, on Tuesday plunged 17 percent to fall below $80 a barrel, then rebounded to near $90 after US Secretary of Energy Chris Wright posted on the X platform – but then quickly deleted – a claim that the US Navy had escorted an oil tanker through the Strait of Hormuz.

White House Press Secretary Karoline Leavitt later told reporters that there had been no armed escort through the strait, which has been effectively closed to shipping in the region due to Iranian threats.

Brent crude oil price exceeds $119 per barrel for first time since June 17, 2022

The price of Brent crude #oil for May 2026 delivery exceeded $119 per barrel on London's ICE Exchange for the first time since June 17, 2022, according to trading data.

As of 2:30 a.m. GMT, oil was trading at $119.36 per barrel (up 28.77%).
By 2:35 a.m. GMT, the price of oil was at $117.8 per barrel (up 27.09%).

Meanwhile, #Gas price in Europe surpasses $800 per 1,000 cubic meters first since January 2023. The price growth since the beginning of the day has exceeded 27%.

The War Is Now Moving Every Commodity Market

🛢 Oil: +21%
Jet fuel: +87%
LNG: +106%

VLCC tanker rates: +201%
LNG carrier rates: +529%

🏗 Aluminum: +20%
Fertilizer: +36%
Naphtha: +26%

US Southern Command confirms seizure of Olina tanker in Caribbean

The US Southern Command has officially confirmed the seizure of the oil tanker Olina in its post on X, which included a video of the operation. During the seizure, marines and sailors of the Southern Spear joint task force, acting in support of the US Department of Homeland Security, boarded the tanker Olina from the aircraft carrier USS Gerald R. Ford. The operation in the Caribbean Sea went smoothly.

The vessel was seized near the island of Trinidad (Republic of Trinidad and Tobago). According to Reuters, the tanker had previously made voyages to Venezuela under the flag of Timor-Leste.

US to file criminal charges against Marinera ship crew, says Attorney General

The US authorities will file criminal charges against crew members of the seized Marinera tanker, also known as Bella 1, US Attorney General Pam Bondi wrote on the X social network.
In her words, the ship’s crew members undertook "frantic efforts to avoid apprehension" of the tanker, which reportedly was "responsible for transporting sanctioned oil from Venezuela and Iran."
"As a consequence of failing to obey the Coast Guard’s orders, members of this vessel are under full investigation and criminal charges will be pursued against all culpable actors," she said.

"The Department of Justice is monitoring several other vessels for similar enforcement action - anyone on any vessel who fails to obey instructions of the Coast Guard or other federal officials will be investigated and prosecuted to the fullest extent of the law," the attorney general added.

Earlier, White House Press Secretary Karoline Leavitt said at a daily briefing that the US may take the crew of the Marinera to the United States for a possible judicial process into purported violations of the federal US law.

The Pentagon said earlier that the Russian-flagged oil tanker Marinera had been detained in the North Atlantic. Pentagon chief Pete Hegseth linked the detention of the Russian tanker to the embargo on Venezuelan oil.

Dec 21 - US intercepts third oil tanker off Venezuela coast

US forces have boarded a third oil #tanker off the coast of #Venezuela, further intensifying maritime enforcement operations in the region. The vessel, identified as the Bella 1, is a Panama-flagged tanker operating under US sanctions and was intercepted while en route to load oil.

The interception has now been confirmed, marking the third such action by US forces in recent days. The move signals a stepped-up effort by Washington to enforce sanctions and prevent unauthorized oil shipments linked to sanctioned entities operating out of Venezuelan waters.

'The interception highlights stricter US enforcement of sanctions aimed at cutting off illicit oil exports, increasing pressure on sanctioned networks, and reinforcing Washington’s determination to control maritime sanctions violations in the Western Hemisphere.'

Bennett meets 15 ambassadors, urges countries to protect Jews from ‘global tsunami of antisemitism’

Following the deadly terror shooting attack on a Hanukkah celebration in Sydney, former prime minister Naftali Bennett — a leading challenger to Prime Minister Benjamin Netanyahu in elections next year — tells 15 foreign ambassadors that “Jews around the world are in clear and immediate danger,” according to his office.

“We are witnessing a global tsunami of antisemitism,” says Bennett. “Every country has an obligation to protect its Jewish citizens. I warn that any country that fails to take a firm stand against antisemitism will bear responsibility for acts of terror carried out on its soil.”

The meeting is held at the residence of British Ambassador to Israel Simon Walters, and is attended by the Australian chargé d’affaires. The meeting is also attended by the ambassadors of the United Kingdom, France, Germany, Canada, Switzerland, Sweden, India, Poland, Japan, Norway, Ukraine, Greece and Belgium, as well as the Italian deputy ambassador.

FBI Says Seized Oil Tanker Near Venezuela Was Supporting Terrorist Groups

#FBI Director Kash Patel confirmed that the bureau, the Department of Homeland Security (#DHS), and other agencies were involved in the seizure of an oil tanker off the coast of #Venezuela on Dec. 10, stating that it was connected to terrorist organizations.

US military seizes oil tanker near Venezuela amid rising tensions

The #US move marks a sharp escalation in the standoff with the #Venezuelan regime.
The US military has intercepted and taken control of an oil tanker near the coast of Venezuela, according to a Bloomberg report. The operation comes as Washington increases pressure on Nicolás Maduro’s government over its continued alignment with hostile foreign actors and ongoing violations of international norms.

The seizure is viewed in Washington as a necessary step to curb illicit oil shipments tied to the Maduro regime, which has deepened cooperation with anti-Western powers.
The incident is expected to heighten tensions further, with Caracas already accusing the US of “aggression” while American officials emphasize the need to enforce sanctions and protect regional stability.

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