Chevron Shares Surge to Annual Peak on Venezuela License Speculation

Chevron Corporation finds itself at the heart of a significant geopolitical shift that is fueling investor optimism. The company’s stock reached a new 52-week high in the latest trading session, driven by reports that the U.S. government may soon broaden the licenses permitting its operations in Venezuela. This potential move could allow the American energy giant to significantly expand its unique foothold in the South American nation and ramp up production, while competitors await their own approvals.

The market response was swift. Analysts at Jefferies promptly raised their price target on Chevron to $189 per share, reiterating a buy rating. In their view, the positive outlook is supported not only Read more...