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Oil Company Stock Prices Rise After U.S. Capture of Venezuelan President Maduro
Oil prices fell while gold rose 2.7% and silver 6.6% as markets adjusted to U.S. capture of Maduro and uncertainty about Venezuela's oil production future.
- U.S. forces captured Venezuelan President Nicolás Maduro in a weekend raid, and markets responded on Jan. 5 as traders repositioned amid uncertainty over President Donald Trump's military action.
- Trump asserted the U.S., according to him, would have oil firms like Chevron, Exxon Mobil, and ConocoPhillips participate in Venezuela’s energy rebuild.
- Market data show U.S. benchmark crude traded 36 cents lower at $56.96 per barrel while Brent fell 34 cents to $60.41, and Chevron gained $8.51 to $164.49.
- Maduro is scheduled to make his first New York court appearance within hours, and analysts said markets appeared calm with minor near-term impacts as investors bought safe-haven precious metals.
- Despite its huge reserves, Venezuela's proven reserves of more than 300 billion barrels face at least a decade and $100 billion in costs to revive heavy crude output.
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Coverage Details
Total News Sources23
Leaning Left2Leaning Right1Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 22%
C 67%
11%
Factuality
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