Chevron, energy stocks soar after US capture of Nicolás Maduro – but oil prices barely move

Core Viewpoint - The capture of Venezuelan dictator Nicolás Maduro has led to a surge in energy stocks, particularly for Chevron, which is poised to benefit from potential access to Venezuela's oil reserves, despite oil prices remaining relatively stable [1][3][8]. Energy Sector - Chevron's shares increased by 4.8%, being the only major US oil company currently operating in Venezuela [1]. - ConocoPhillips and Exxon Mobil, which exited Venezuela nearly 20 years ago, saw their shares rise by 5.3% and 2.4%, respectively [2]. - Brent crude oil futures initially fell about 2% but recovered to around $61 per barrel, while US futures for later delivery increased by 0.4% to approximately $58 [3]. Market Reactions - The overall energy sector experienced a rally, with the S&P 500 rising by 0.6% as investors reacted positively to the geopolitical developments [11]. - Analysts caution that even with potential easing of sanctions, it may take years to significantly boost Venezuelan oil exports, which could lead to lower prices over time [4]. Geopolitical Impact - The capture of Maduro has also influenced global defense stocks, with companies like Northrop Grumman and Lockheed Martin seeing increases of 2.7% and 3.3%, respectively [7]. - Concerns about geopolitical tensions have led to a rise in gold prices, which increased by about 2.5% to $4,438.70, as investors sought safe-haven assets [7][10].