Energy stocks rip as JP Morgan estimates the U.S. could hold 30% of all the world’s oil

Shares of major U.S. companies in the energy sector are sharply higher Monday after President Donald Trump announced plans to take control of Venezuela’s oil industry, saying that it would be American companies helping to revitalize it following the capture of President Nicolás Maduro.

While the U.S. action is unlikely to have an immediate impact on crude prices given the current glut in the market, it could upend energy markets and have an impact on the geopolitical landscape.

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