Stock Track | Occidental Petroleum Soars 5.01% as Trump's Venezuela Blockade Boosts Oil Prices

Stock Track12-18

Occidental Petroleum (OXY) surged 5.01% intraday on Wednesday, outperforming the broader energy sector as oil prices rallied following President Donald Trump's order to blockade oil tankers entering and leaving Venezuela.

The geopolitical tension stoked uncertainty in global oil supply, pushing Brent crude futures up 2% and West Texas Intermediate (WTI) futures up 2.09%. Energy stocks, including Occidental, Exxon Mobil, and Chevron, gained as investors bet on higher crude prices benefiting producers.

Analysts caution that the rally may be short-lived unless further catalysts emerge, such as OPEC intervention or a rebound in global demand. However, the immediate market reaction highlights the sensitivity of energy stocks to geopolitical risks.

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