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U.S. Energy Company Shares Rise Premarket
Shares in U.S. energy companies surged premarket after President Trump pledged to dispatch American drillers to revive Venezuela’s crude production.
Among the big gainers was Chevron, up around 8% ahead of Monday’s open. The company is the sole remaining U.S. oil major in Venezuela. Others included ConocoPhillips and Exxon Mobil, which pulled out of Venezuela nearly 20 years ago. Oilfield services companies such as SLB and Baker Hughes also rose.
Elsewhere, the ouster of President Nicolás Maduro fueled a further rally in precious metals, and global defense stocks rose, as investors bet on an uptick in geopolitical tensions. Gold futures, typically seen as a haven, rose about 2.5%. Silver jumped more than 6% and copper leaped too.
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