NEW YORK — Wall Street surged Monday, with the Dow Jones Industrial Average climbing over 500 points to a record high, fueled by rising oil prices and energy sector gains following the U.S. capture of Venezuelan President Nicolás Maduro.
Crude oil settled up $1 per barrel in volatile trading, with U.S. benchmark WTI rising 1.7% to $58.32 and Brent to $61.76, as investors weighed potential disruptions and long-term opportunities in Venezuela's vast reserves.Energy stocks led advances: Chevron jumped 5-7%, Exxon Mobil 4%, Halliburton 9%. Financials also rose, with Goldman Sachs up 4.5%.President Trump signaled U.S. firms would invest billions to rebuild Venezuela's dilapidated infrastructure, promising reimbursement and access to the world's largest oil reserves.
Analysts note short-term supply risks could support prices, though meaningful production increases may take years and tens of billions in investment.Markets reacted calmly overall, viewing the event as unlikely to spark broader geopolitical conflict.Upcoming meetings between administration officials and oil executives are planned this week.
