Canadian, U.S. markets rise after raid on Venezuela as oil market comes into focus

Group 1: Market Reactions - Canadian oil companies experienced a decline in share prices, with Canadian Natural Resources Ltd. down 6%, Cenovus Energy Inc. down 4.8%, and Suncor Energy Inc. down 1.7% [1] - The TSX energy subindex fell by 3.6% [1] - The overall market showed positive movement, with the S&P/TSX composite index up 336.58 points, and major U.S. indices also reporting gains [3] Group 2: Oil Production Insights - Venezuela holds the world's largest oil reserves but is significantly underproducing, currently at about one million barrels compared to peak levels of over 3.5 million barrels [2] - Even if Venezuelan production returned to previous highs, it would only account for about 2% of the global market [5] - The limited impact of Venezuelan supply on oil prices is noted, as it currently represents about 1% of the market [5] Group 3: Economic Implications - The situation in Venezuela is expected to have a muted impact on the U.S. market due to its small role in the global economy and limited trading relationship with the U.S. [5] - U.S. President Donald Trump has proposed a plan for U.S. oil companies to assist in rebuilding Venezuela's oil industry, leading to gains for companies like Chevron (up 5.1%), Exxon Mobil (up 2.2%), and Halliburton (up 7.8%) [6]