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The White House has ordered U.S. military forces to focus almost exclusively on enforcing a "quarantine" of Venezuelan oil for at least the next two months, a U.S. official told Reuters, indicating Washington is currently more interested in using economic rather than military means to pressure Caracas."While military options still exist, the focus is to first use economic pressure by enforcing sanctions to reach the outcome the White House is looking (for)," the official said on Wednesday, speaking on condition of anonymity.

Australia’s Woodside Energy has finalized a long-term liquefied natural gas supply agreement with Türkiye’s state pipeline operator BOTAŞ, marking Woodside’s first long-term LNG contract with the Turkish market.Under the sale and purchase agreement, Woodside will supply BOTAŞ with about 5.8 billion cubic meters of natural gas equivalent, or around 0.5 million tons per annum of LNG, for up to nine years starting in 2030.The deal converts a non-binding heads of agreement signed in September into a binding commitment. LNG volumes will be supplied primarily from Woodside’s under-construction Louisiana LNG project in the United States, as well as from its broader LNG portfolio.

Oil prices fell by more than $1 a barrel on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.Brent crude futures fell $1.13 or 1.82% to $61.11 per barrel by 1:14 p.m. EDT. U.S. West Texas Intermediate (WTI) crude fell $1.13 or 1.94% to $57.22.While supply disruptions have helped oil prices rebound in recent sessions from their near five-year low on December 16, they are on track for their steepest annual decline since 2020.

On January 8, 2026, NYK will launch an expert committee dedicated to the long-term preservation of Hikawa Maru, a national Important Cultural Property moored in front of Yokohama’s Yamashita Park.Since 2024, NYK has been conducting surveys on the hull of Hikawa Maru to assess its safety and structural integrity in preparation for large-scale repairs. This long-term preservation project aims not only to ensure the ship’s structural soundness but also to enhance public engagement with the ship’s rich historical legacy.Based on our findings, NYK will convene an expert committee specializing in ship preservation and architecture.

Iran has seized a foreign oil tanker near the Iranian island of Qeshm in the Gulf, saying it was carrying 4 million litres of smuggled fuel, state media reported on Friday.Authorities did not name the vessel or disclose its nationality. They said 16 foreign crew members had been detained on criminal charges. State TV said the tanker was seized on Wednesday.Iranian news websites published video footage and photographs of what they said was the seized tanker.Iran said last week it had seized another foreign tanker carrying 6 million litres of what it described as smuggled diesel in the Gulf of Oman without identifying the vessel or its nationality.