Venezuela: What happened, why and what's next?

NewsNation National Correspondent Robert Sherman has found himself on the frontlines of some of the world's biggest stories: from Ukraine to Israel and across the U.S. He shares what he's seeing on the ground.

What happened, why and what's next in Venezuela?

Apologizing in advance for an abridged Frontlines as we're monitoring breaking news here in the Caribbean.

WHAT HAPPENED?

Today, the U.S. seized an oil tanker off the coast of Venezuela.

The president announced it today while speaking with reporters.

"As you probably know, we just seized a tanker off the coast of Venezuela, large tanker, very large. Largest one ever seized, actually. And other things are happening," the president said.

It's a significant escalation in an already tense environment, especially after the news came down two American jets flew through the Gulf of Venezuela Tuesday.

Asked what would happen to the tanker now, the president had this exchange with a reporter.

REPORTER: What happens to the oil on this ship?"

THE PRESIDENT: "We keep it, I guess, I don't know?"

REPORTER: "Where does it go? What port does it go to?"

THE PRESIDENT: "Well, you have to follow the tanker. You know, you're a good newsman, just follow the tanker."

We're on standby waiting to see where this is headed. Maybe to us in Puerto Rico? Perhaps to Miami to make a big show of it? We'll keep you posted.

WHY?

Some context to all of this: Oil is big business. There are tankers on the open waters that have been sanctioned by the United States.

You may recall some of our reporting from the Baltic Sea, where Russia used its so-called "Shadow Fleet" to evade U.S. sanctions. I went more in-depth for this piece in The Hill showing how far nations will go.

There's a lot more to come out of this, but that's some context on the pure scope of oil.

It's especially the case for Venezuela, whose big customer is China.

So the tension is rising here. We're watching as F-35s and C-17s are taking off every few minutes.

WHAT'S NEXT?

The big question: Where does this go from here?

The president, in his speech Tuesday night, said the operations in the Caribbean aren't stopping. In fact, he left the door open for them expanding.

"Now, we're going to do land because the land is much easier. And it's even more prevalent," the president said to the crowd.

UPDATE ON LESSONS FROM THE FRONT

Thanks to everyone who tuned into Bill O'Reilly's "No Spin News" today. It was great to chat with him briefly and share more of the "behind the scenes" of war reporting.

We just got word from Amazon that some of these deliveries are going to be delayed significantly. Demand has exceeded supply, so we're working to rectify this.

If you're hoping to get a copy for the holidays, I would place your order immediately. I will work to make this right for everyone to ensure holiday plans are not disrupted. For those still interested in preordering, you can do so through Amazon, Barnes and Noble or Bloomsbury.