Trump's Venezuela Blockade Fuels US Crude Futures Surge in Asia

• US crude futures jumped in Asia trade after President Donald Trump ordered a blockade on tankers entering and leaving Venezuela.
• The West Texas Intermediate (WTI) contract rose 98 cents, or 1.75%, to $56.92 per barrel.
• Trump labeled Nicolas Maduro's administration a "foreign terrorist organization" and imposed the blockade.
• Most Venezuelan oil exports remained on hold, despite PDVSA restarting operations after a cyberattack.
• The unexpected US pressure on the Maduro regime sparked supply disruption concerns, according to IG analyst Tony Sycamore.

Why It Matters: Trump's Venezuela blockade caused US crude futures to surge amid supply disruption fears.