Why Oil Markets Are Worried About Venezuelan Oil Seizures

Oil markets are on edge as the U.S. escalates its seizures of sanctioned oil tankers off the coast of Venezuela, boarding a second tanker on Saturday before pursuing a third out into the Atlantic on Sunday. These actions, coming on the back of Trump’s announcement of a blockade of all sanctioned oil tankers entering and leaving Venezuela, have ratcheted up tensions between the two countries.  At the same time, the U.S. is continuing to strike boats that it claims are smuggling drugs in the eastern Pacific Ocean, with more than 100 people…