US energy stocks surged in pre-market trading on Monday following Donald Trump's pledge to unlock Venezuela's vast crude oil reserves after the US capture of the country's president, Nicolás Maduro.

Shares in Chevron experienced a significant boost, rising 7% in pre-market trading. Exxon Mobil also saw gains, increasing by 3.7%. Halliburton, a major provider of products and services to the oil and gas sector, jumped by as much as 9%. Oil prices initially dipped but then flattened, reflecting market uncertainty about the potential impact of increased Venezuelan oil production on global supply.

The market's reaction reflects the potential for a significant shift in global oil supply dynamics. Venezuela holds approximately 17% of global crude oil reserves, making it a key player in the energy market. The prospect of increased Venezuelan output, facilitated by a change in leadership and US involvement, raised concerns about a potential supply glut, initially pushing prices down. However, the subsequent flattening suggests investors are weighing the complexities of bringing Venezuelan production back online and the potential geopolitical implications.

Chevron already operates in Venezuela under a special license granted by the Trump administration, positioning it to potentially benefit significantly from increased access to the country's reserves. Exxon Mobil and Halliburton, with their global reach and expertise, also stand to gain from expanded opportunities in Venezuela's oil sector.

The future impact on the energy market hinges on the speed and scale at which Venezuela can increase its oil production. Significant investment and infrastructure improvements will be necessary to restore the country's oil industry to its former capacity. The long-term implications for global oil prices and the competitive landscape will depend on these factors, as well as the broader geopolitical context.