The U.S. raid on Venezuela shocks oil stocks, Chevron and others surge in pre-market trading

AASTOCKS
2026.01.05 14:14

U.S. oil stocks surged significantly before the market opened on Monday, as the market focused on the impact of the Trump administration's military actions in Venezuela over the weekend. Chevron (CVX.US) saw its stock price rise by 6% before the U.S. stock market opened, Exxon Mobil (XOM.US) rose by 3%, ConocoPhillips (COP.US) increased by 5%, and oilfield services company SLB (SLB.US) jumped by 8%.

Reports indicate that the U.S. conducted a large-scale military operation in Venezuela over the weekend, detaining Venezuelan President Maduro and his wife, shocking the international community. U.S. President Trump subsequently stated that the White House would take control of the country until a safe, appropriate, and prudent transition of power occurs.

Venezuela is a founding member of the Organization of the Petroleum Exporting Countries (OPEC) and has the largest proven oil reserves in the world, totaling 303 billion barrels, accounting for about 17% of the global total

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