Shares of energy companies rose sharply after the surprise U.S. operation to capture Venezuelan President Nicolás Maduro.
Shares of Chevron, traditionally the largest U.S. oil producer in the South American nation, rose by more than 5%. Shares of oil-services giants SLB and Halliburton each rose by roughly 10%. Gains for Exxon Mobil were more muted, but the largest American oil company by market capitalization eked out a new all-time high.
"The U.S. plans to 'fix' Venezuela's oil infrastructure and sell 'large amounts' of oil abroad," said analysts at brokerage Morgan Stanley, in a note to clients. "This suggests a strategy revolving around U.S. control of oil production and implies sustained engagement, with the potential for higher future output."
Oil futures rose in the wake of the Maduro ouster, as traders focused on the implications for geopolitics.
"It looks like we'll have greater supply. The question is will there be greater demand or not," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "How does this impact other countries? Does this move embolden China to attack Taiwan? Does Russia use this [as cover] to attack other countries beyond Ukraine?" Only time would tell if the Maduro ouster encourages "bad actors" to launch their own cross-border military adventures, Joyce said.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
January 05, 2026 17:30 ET (22:30 GMT)
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