To The Moon

Crude oil prices advanced on Monday as the U.S. military's capture of Venezuelan President Nicolás Maduro introduced fresh geopolitical undercurrents, while Washington appeared poised to continue pressuring the South American nation's oil exports. London copper resumed its upward trajectory, breaking through the $13,000 per tonne mark for the first time, as a renewed surge in shipments to the U.S. further ignited bullish sentiment among traders and investors. Prices for gold and silver also moved higher. Crude oil prices climbed on Monday, fueled by new geopolitical tensions following the U.S. military's apprehension of Venezuelan President Nicolás Maduro, alongside indications that Washington intends to maintain pressure on the South American country's oil exports. WTI crude rose 1.7%, settling above $58 per barrel. While the U.S. plans to continue exerting pressure on Venezuela's oil exports, the country's relatively small share of the global market, combined with an already expanding supply surplus, capped the gains in oil prices. Shares of U.S. oil companies advanced after President Donald Trump stated that American firms would invest substantial sums to rebuild Venezuela's deteriorating energy infrastructure. By the close, February WTI crude rose 1.7% on the New York market, settling at $58.32 per barrel. March Brent crude increased 1.7%, settling at $61.76 per barrel. "The market has this sized up correctly," said Bob McNally, president of Rapidan Energy Group, in an interview. "For near-term crude futures, it's not a big deal; for U.S. oil companies, it's a positive." Although the future of Venezuela and its oil industry remains highly uncertain, Trump stated that the U.S. would temporarily manage the country and require "full access" to Venezuela's oil supplies. CBS reported on Monday that the U.S. plans to intercept the tanker Marinera, formerly named Bella 1, which is accused of carrying Venezuelan oil. Meanwhile, Maduro was extradited to New York and pleaded not guilty to charges of "narcoterrorism" on Monday. London copper resumed its rally, surpassing $13,000 per tonne for the first time, as a renewed wave of shipments to the U.S. further stoked bullish enthusiasm among traders and investors. LME copper surged as much as 4.7% on Monday, with the recent consecutive gains pushing prices up approximately 20% since mid-November. Helen Amos, a commodities analyst at BMO Capital Markets, noted that the historic surge in U.S. inventories remains the dominant force shaping global copper price trends. Al Munro, a senior base metals strategist at Marex, stated that a strike at Chile's Mantoverde copper mine has fueled speculative activity in the market. The reality is that this is a wave of buying driven by speculative capital, with the market perceiving further upside potential, particularly in the first quarter of 2026. Many investors had previously remained on the sidelines awaiting a price correction. At the close, LME copper was up 4.19% at $12,991.5 per tonne; LME aluminum rose 2.32% to $3,085.5 per tonne; LME nickel increased 1.09% to $17,003.0 per tonne; LME zinc advanced 2.17% to $3,195.0 per tonne. Prices for gold and silver rose as investors assessed heightened geopolitical risks following the U.S. arrest of Venezuelan leader Nicolás Maduro. Spot gold climbed as much as 2.9% on Monday, breaching the $4,455 per ounce level, while silver surged nearly 7%. After ousting Maduro over the weekend, U.S. President Donald Trump stated that the U.S. plans to "manage" Venezuela, casting uncertainty over the future governance of the South American nation. He emphasized the need for the U.S. to have "full access," including to its oil reserves. Christopher Wong, an analyst at OCBC Bank in Singapore, said the event "adds to the backdrop of geopolitical uncertainty." However, he added, "The developments in Venezuela suggest a swift conclusion to the conflict rather than a prolonged military confrontation," indicating limited short-term risks. As of 4:36 p.m. New York time, spot silver was up 5.07% at $76.5095 per ounce. Spot gold was up 2.64% at $4,446.87 per ounce.