"In a Saturday press conference addressing America's military intervention, Trump said, "We're going to have our very large United States oil companies-the biggest anywhere in the world-go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure." While the president did not name any specific companies, based on premarket trading this morning, investors seem to think that the following oil and energy giants stand to benefit from the intervention:"
"Chevron (NYSE: CVX): up 7.3% Exxon Mobil (NYSE: XOM): up 4.5% ConocoPhillips (NYSE: COP): up 7.3% Halliburton Company (NYSE: HAL): up 10.3% One interesting thing to note: Two prominent oil companies that trade on the New York Stock Exchange are currently down slightly in premarket trading. Those companies are Shell (NYSE: SHEL), down 0.7%, and BP (NYSE: BP), down 0.7%. Shell is a British-Dutch company and BP"
The U.S. intervention in Venezuela and the capture and extradition of Nicolás Maduro created immediate market reactions among select publicly traded stocks. Oil and energy giants listed on U.S. exchanges surged on expectations of U.S. companies investing in Venezuelan oil infrastructure. Chevron, Exxon Mobil, ConocoPhillips, and Halliburton showed notable premarket gains. Two foreign-listed majors, Shell and BP, traded slightly lower in premarket sessions. The geopolitical implications continue to be evaluated by legal and security experts, while investors focused on potential commercial opportunities and infrastructure investment by large American energy firms.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]