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Commodity News Details
Oil prices rise on Venezuela tensions, upside capped
17-Dec-2025 13:22
Crude oil futures rose 1.5% to around $56 per barrel on Wednesday morning after US President Donald Trump ordered a total and complete blockade of all sanctioned oil tankers moving in and out of Venezuela. The decision follows last week's seizure of blacklisted tankers and an increased US military presence near the Venezuelan coast, raising fresh supply disruption concerns. Prices have also stayed under pressure this year amid ample global supply, with OPEC+ gradually restoring shut-in capacity and non-OPEC producers continuing to ramp up output. On the domestic front, December crude oil futures on MCX were trading at ₹5085, up 0.3%, compared with the previous close of ₹5071, tracking global cues while capped by oversupply worries.

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