US energy stocks surged on Monday after former President Donald Trump vowed to unlock Venezuela’s vast oil reserves. The announcement followed the US capture of Venezuelan President Nicolás Maduro. Shares of Chevron, which already operates in Venezuela under a special license from the Trump administration, rose 5% on Wall Street. Exxon Mobil climbed 2.2%, while Halliburton, a major oil services company, jumped 7.8%. These gains helped lift the Dow Jones index above 49,000 for the first time, although it closed just below the record. Oil prices also rose on Monday after a brief dip. Brent crude, the international benchmark, increased 1.5% to $61.76 per barrel. West Texas Intermediate rose 1.4% to $58.32. Venezuela currently produces only about 1% of global oil due to years of underinvestment, US trade sanctions, and a naval blockade. Yet the country holds roughly 17% of the world’s crude oil reserves, according to the US Energy Information Administration. Trump’s plan could add to a global supply surplus, as he promised US oil companies would invest billions to repair Venezuela’s oil infrastructure and restart production. He said these investments would generate revenue for both the companies and the country. So far, major US oil companies have not publicly confirmed they are ready to invest in Venezuela. However, former Chevron executive Ali Moshiri said he is raising $2 billion for Venezuelan oil projects through his Amos Global Energy Management fund. The fund has identified Venezuelan assets and is preparing investments. “The $2 billion private placement memorandum is ready with several targets identified,” Moshiri told the Financial Times. Kathleen Brooks, research director at XTB, noted that any oil price decline could be temporary. She said investors are weighing how long it would take for Venezuelan oil to enter the global market. “The type of investments needed includes upgrading old infrastructure, drilling new wells, and building refineries for Venezuela’s heavy crude oil,” Brooks said. She added that restoring Venezuela’s oil output to its 1998 peak of 3.5 million barrels per day could take until 2030 or beyond, far above the current one million barrels daily. John Browne, former BP chief executive, called the revival a “very long-term project.” He told BBC Radio 4 that while production might see a short-term increase, it could also decline during restructuring. Political disruptions in Venezuela have also lifted the country’s bond market. Venezuelan government bonds maturing in 2027 rose from 31.5 cents on the dollar to over 40 cents. A second bond due in 2022 increased from 31.5 cents to 34 cents. The potential regime change appears to be driving this rally. China’s top financial regulator has requested that its banks report exposure to Venezuela. This move prepares the country’s financial system for possible shocks, Bloomberg reported. Despite the US intervention, OPEC+ did not alter its production plans at its recent meeting. The group, including Russia, Saudi Arabia, and the UAE, agreed to maintain the current pause on production increases until at least April. Gold prices rose 2% to $4,430.27 an ounce, reflecting investor interest in safe-haven assets amid geopolitical uncertainty. Silver gained 3.9% to $75.42 an ounce. Both metals reached record highs last year due to global economic and political uncertainty. Bitcoin also saw a boost, rising 1.7% to $93,085 on Monday, supported by geopolitical tensions and investor caution. Asian markets started the year strongly, posting their best opening since 2012. In London, the FTSE 100 crossed 10,000 points for the first time, aided by gains in mining and defense stocks. In the US, the Dow Jones reached a record high alongside the rally in energy shares.