Venezuela Oil

The U.S. Coast Guard is pursuing another sanctioned oil tanker in the Caribbean Sea. Word of the pursuit comes as the Trump administration appears to be intensifying its targeting of such vessels connected to the Venezuelan government. The tanker pursuit Sunday was confirmed by a U.S. official. The official says the vessel was flying a false flag and was under a judicial seizure order. Venezuelan leader Nicolas Maduro Maduro says on Telegram that his country has spent months “ denouncing, challenging and defeating a campaign of aggression" being waged against it.

Stocks closed higher on Wall Street, led by a mix of energy companies and banks. The S&P 500 rose 0.6% Monday and the Nasdaq composite added 0.7%. The Dow Jones Industrial Average rose 1.2%. Crude oil prices rose after U.S. forces captured Venezuelan President Nicolás Maduro in a weekend raid. Shares of Chevron and Halliburton rose sharply after President Donald Trump floated a plan for U.S. oil companies to help rebuild Venezuela's oil industry. Banks also gained ground. Gold and silver prices jumped, and Treasury yields fell in the bond market.

President Donald Trump's administration is seeking to assert its control over Venezuelan oil, seizing two sanctioned tankers transporting petroleum and announcing plans to relax some sanctions so the U.S. can oversee the sale of Venezuela’s petroleum worldwide. The Trump administration intends to control the distribution of Venezuela’s oil products globally following its ouster of President Nicolás Maduro in a surprise nighttime raid. The seizures of the tankers in the North Atlantic and the Caribbean Sea on Wednesday reflect the Republican administration’s determination to enforce an existing oil embargo on Venezuela as Trump has pledged the U.S. will “run” the country. Venezuela's press office hasn't responded to a request for comment on the seizures.