"Energy companies and the oil market were a key focus after U.S. forces captured Venezuelan President Nicolás Maduro in a weekend raid. The price of U.S. crude jumped 1.4% to $58.13 per barrel. The price of Brent crude, the international standard, rose 1.2% to $61.50 per barrel. President Donald Trump has floated a plan for U.S. oil companies to help rebuild Venezuela's oil industry. Chevron surged 5% and Exxon Mobil rose 2% for some of the strongest gains in the market."
"After years of neglect and international sanctions, Venezuela's oil industry is in disrepair. It could take years and major investments before production can increase dramatically. But some analysts expect its current output of about 1.1 million barrels a day could double or triple fairly quickly. Big banks also made solid gains. JPMorgan Chase rose 3.4% and Bank of America jumped 2.6%."
Stocks rose in morning trading on Wall Street to start the first full week of the new year, led by energy and technology companies. The S&P 500 rose 0.7%, the Dow rose 639 points (1.3%), and the Nasdaq rose 0.8%. Energy shares rallied after U.S. forces captured Venezuelan President Nicolás Maduro, sending U.S. crude to $58.13 and Brent to $61.50 per barrel. President Donald Trump floated a plan for U.S. oil companies to help rebuild Venezuela's oil industry, lifting Chevron and Exxon Mobil. Venezuela's production of about 1.1 million barrels a day could double or triple with investment, but recovery may take years. Big banks and tech firms, including JPMorgan, Bank of America, Nvidia, and Intel, also gained amid focus on AI advancements.
Read at Fast Company
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