US Oil Stocks Surge After Trump’s Pledges on Venezuela
US oil stocks jumped in pre-market trading as investors bet that President Donald Trump’s moves against Venezuela’s leadership could open broader access for American companies to the world’s largest oil reserves.
Chevron shares surged 7.3%, while refining companies including Phillips 66, Marathon Petroleum, Valero Energy and PBF Energy gained between 5% and 16%.
The US energy sector added more than $50 billion in market value during pre-market trading, fueled by expectations of expanded opportunities in Venezuela’s oil sector.
Chevron shares surged 7.3%, while refining companies including Phillips 66, Marathon Petroleum, Valero Energy and PBF Energy gained between 5% and 16%.
The US energy sector added more than $50 billion in market value during pre-market trading, fueled by expectations of expanded opportunities in Venezuela’s oil sector.
