Don-Roe Doctrine: Fall Of Maduro Sends US Oil Stocks Soaring

Brent crude futures were little changed early Monday following President Trump's special operation involving Delta Force commandos that removed socialist leader Nicolás Maduro from power in Venezuela.

While crude futures showed a muted reaction, U.S. energy equities surged in premarket trading, reflecting growing optimism that Chevron and Exxon Mobil are among the best positioned to lead a revival of Venezuela's oil industry under a new geopolitical framework, which we have described as Western Hemisphere defense, or what some in recent days have dubbed the "Don-roe Doctrine."