Washington / Caracas — The United States is reportedly preparing military strikes against Venezuelan military targets, according to multiple media outlets citing U.S. officials familiar with the matter. The development has already sent ripples through global oil markets.
Bloomberg News reported that West Texas Intermediate (WTI) crude rose as much as 1.3%, recovering from earlier losses, following reports that the Trump administration has identified potential targets linked to drug trafficking operations inside Venezuela — an OPEC member nation.
According to The Wall Street Journal and the Miami Herald, U.S. officials have drawn up plans that include strikes on military facilities allegedly involved in narcotics trafficking. The reports did not specify whether a final decision on the strikes has been made.
Analysts warn that any potential military escalation could have far-reaching economic consequences, affecting major energy-consuming economies from China and India to Western Europe.
It could also disrupt operations at U.S. Gulf Coast refineries, which depend on Venezuelan heavy crude to maintain steady production.
The White House has not issued an official statement on the matter as of publication time. Venezuela, which holds some of the world’s largest proven oil reserves, has long been under U.S. sanctions, and tensions between Washington and Caracas have remained high in recent months amid accusations of corruption and illicit trade activities within the Venezuelan military.
