Oil price dips and then flattens amid fears US president’s pledge could deepen global supply glut
US energy stocks surged in pre-market trading on Monday, as Donald Trump pledged to unlock Venezuela’s vast crude oil reserves after the US capture of the country’s president, Nicolás Maduro.
Shares in Chevron, which already operates in Venezuela under a special licence provided by the Trump administration, were up 7% in pre-market trading. Exxon Mobil was up 3.7%, while Halliburton, which provides products and services to the oil and gas sector, jumped by as much as 9%.
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