The U.S. military has seized an oil tanker off of Venezuelaโ€™s coast, President Donald Trump told reporters Wednesday as his administration continues to escalate military activity in the region.

โ€œAs you probably know, weโ€™ve just seized a tanker on the coast of Venezuela,โ€ Trump said. โ€œLarge tanker, very large, largest one ever seized actually.โ€

Trump did not provide details on the seizure but said that it was an โ€œinteresting day.โ€ He also hinted that more news would be released, including photos, but did not offer a specific timeline.

โ€œYouโ€™ll discuss that with the appropriate people later on,โ€ Trump said. โ€œBut no, it was seized for a very good reason.โ€

Asked what would happen to the oil on the ship, Trump was unsure.

“We keep it, I guess,” Trump said. “I donโ€™t know.”

Oil prices began steadily rising as reports of the seizure circulated throughout the day, rising more than 1.3% or about 75 cents, as of 3:45 p.m. ET. The price of crude oil is one of the primary factors in the price consumers pay at the gas pump.

News of the seizure comes after Trump told Politico in an interview published Tuesday that Venezuelan President Nicolรกs Maduroโ€™s โ€œdays are numbered.โ€ Trump declined to comment to Politico on whether the U.S. could send troops to the country.

His administration has built up a military presence in the region over the last month, including sending the USS Gerald R. Ford aircraft carrier to the Caribbean. The vessel is host to squadrons of fighter jets and guided-missile destroyers.

The U.S. has been striking alleged drug vessels in the Caribbean since September. Trump has justified the strikes by characterizing the U.S. as being in an โ€œarmed conflictโ€ with drug cartels and describing the boats as being operated by foreign terrorist organizations.

Defense Secretary Pete Hegseth has come under scrutiny for a Sept. 2 strike on a boat that included a secondary hit, killing two survivors of the initial attack. Critics have questioned whether the โ€œdouble tapโ€ constituted a war crime.

Hegseth defended the strike by citing the โ€œfog of war,โ€ saying he didnโ€™t personally see the survivors before another hit was approved.

Lawmakers from both parties in the House and Senate have started inquiries into the administrationโ€™s attack on these boats.

Maduro has accused the U.S. of trying to fabricate a war against him. The Venezuelan president was charged in 2020, during the first Trump administration, with narco-terrorism and conspiracy to import cocaine.

Trump recently offered a $50 million reward for Maduroโ€™s arrest.

Speaking to farmers today, Maduro referred to tensions with the U.S. but did not mention the tanker. He said that the country is ready for a fight.

“Itโ€™s not a time for cowards,” he said. “It’s time for combat.”

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