Nicolas Maduro will have his first day in court today following his capture in Venezuela.
The seemingly ex-president and his wife are currently being held in a jail in Brooklyn, New York, and are expected to face charges related to drug trafficking, narco-terrorism, and the illegal possession and use of machine guns and destructive devices. Life in prison is the most likely outcome, but markets are already moving on the many impacts of the U.S. ouster of Maduro from power.
Oil is set to see the most immediate effect, and traders are acting accordingly.
Among the biggest gainers in premarket trading are Halliburton (HAL) and SLB (SLB), which are both up 8% at the time of writing. Shares of Chevron (CVX), which has operated in Venezuela under an American exemption, are also ahead by 7%, while ConocoPhillips (COP) and Valero (VLO) advanced 6%.
Other gainers include Marathon Petroleum (MPC), Occidental Petroleum (OXY), and Exxon Mobil (XOM).