US stock market: Amid speculation that the US oil companies would benefit from US President Donald Trump’s announcement to invest in Venezuela’s crude oil exploration, oil stocks listed on Wall Street witnessed strong buying on Monday. While most stocks finished 2% to 3% higher, the Chevron stock price rose more than 5% in the backdrop of the US-Venezuela conflict. Chevron’s share price opened with an upside gap at $165.75 apiece on the NYSE, which also became its intraday high. However, the Chevron stock finished over 5% higher than its previous close of $155.90 per share.

According to stock market experts, Chevron’s stock price rose due to market buzz about the benefits trickling down to the company after Donald Trump’s announcement to invest in Venezuela’s oil exploration, as Chevron Corporation is the only US company currently involved in oil exploration in Venezuela. The market is expected to benefit early from the US-Venezuela company, which is likely to be the biggest gainer among the US oil majors.

US-Venezuela conflict

Pointing towards the US-Venezuela crisis, Sandeep Pandey, Co-founder of Basav Capital, said, “The US attacks on Venezuela would benefit Chevron Corporation the most as it is the only US oil company which is currently doing business in Venezuela. In fact, it accounts for approximately 25% of Venezuela’s net oil exploration business. Therefore, the market is expected to bring early benefits to this company, whereas the rest of the company will receive a project in Venezuela. Then they will start their business, which is expected to take a much longer time.”

Chevron stock price target

On what’s next after the strong bull run on Monday, Anshul Jain, Head of Research at Lakshmishree, said, “Chevron stock is on the verge of resolving a massive 46-month consolidation, with price pressing against the upper band of the $165 to $168 range after a decisive gap-up. This gap signals urgency and the need for improvement in participation, often seen ahead of major structural breakouts. A clean breakout and sustained hold above 168 would mark a long-term trend shift, opening a powerful momentum leg toward the $285 to $300 zone. Daily, weekly, and monthly moving averages have converged and turned supportive, forming a strong multi-timeframe launchpad beneath price. Volatility compression across higher timeframes adds conviction to the setup.”

The Lakshmishree expert stated that the risk-reward now favours the upside, with $168 serving as the key trigger and invalidation reference. If follow-through volume expands, the Chevron share price could transition into a fresh secular uptrend after years of trading within a range.

US-Venezuela crisis

In a significant development that stunned the entire world, the US carried out a large-scale military strike against Venezuela on Saturday morning. US President Donald Trump announced the US attack on Venezuela from his social media handle Truth Social. The US President also announced that Venezuelan President Nicolas Maduro and his wife have been captured and flown out of the country. After the successful US military operation, President Donald Trump said the US planned to tap Venezuela’s vast oil reserves to sell to other nations, triggering speculations about the benefit the US oil companies would be getting.

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