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News  ›  Benzinga

Trump's White House Will Likely Demand A Cut Of Venezuela's Oil Windfall, Says Former US Envoy

Benzinga Logo Benzinga By Vishaal Sanjay
Trump's White House Will Likely Demand A Cut Of Venezuela's Oil Windfall, Says Former US Envoy

Former U.S. envoy Richard Haass suggests that Trump's military intervention in Venezuela is primarily motivated by access to the nation's oil reserves, with the White House potentially seeking a financial stake similar to Nvidia's 'Dragon Fee' arrangement. Major U.S. oil and gas companies saw significant overnight gains following the intervention, with Chevron, Halliburton, and Valero Energy stocks surging due to their exposure to Venezuelan oil production.

Insights
MU   positive

Jumped over 7% due to potential memory chip price increases from Samsung


CVX   positive

Only major U.S. oil producer operating in Venezuela with special Treasury license; stock surged 10.36% overnight due to anticipated increased access to Venezuelan oil production and infrastructure investment opportunities.