US oil majors soar on Wall St after Maduro deposed

New York, Jan 5, 2026 (AFP)
US oil giants surged on Wall Street early Monday after the United States deposed Venezuela's leader as markets opened a post-holiday season trading stretch ahead of key employment data.
Both Chevron and ConocoPhillips rose more than four percent in opening trading, while ExxonMobil rose 2.1 percent.
The gains helped lift major indices, with the Dow Jones Industrial Average up 1.1 percent at 48,903.76.
The broad-based S&P 500 climbed 0.6 percent to 6,895.94, while the tech-rich Nasdaq Composite Index also advanced 0.6 percent to 23,381.70.
The rally in US oil shares stood in contrast to crude prices, which did not move significantly. Analysts say increased oil volumes from Venezuela due to US investments promised by President Donald Trump would likely take years to show up in the market.
Trump said that in the wake of the military attack on Venezuela and arrest of its president Nicolas Maduro that US companies will "go in, spend billions of dollars, fix the badly broken infrastructure."
The weekend's dramatic events did not significantly affect financial markets, where traders remain fixated on economic data and Federal Reserve policy statements.
"Typically, Wall Street does not really respond much to military confrontations, especially on such a small scale as this that will not likely result in an impact to the global economy," said Sam Stovall of CFRA Research.
"People are sort of tiptoeing back into equities and waiting to see what will happen with the Federal Reserve, as well as corporate profits," said Stovall.
Besides this week's jobs data for December, markets are looking to fourth-quarter reporting season in the coming weeks.

Sumber : AFP