Zinger Key Points
- Trump vows 25% tariff on nations importing Venezuelan oil, reigniting geopolitical tensions in global energy markets
- Exxon shares hit 16-week high as energy sector leads S&P 500 with 7.8% year-to-date gain
- How to Spot the Market Bottom: Matt Maley has navigated every major market turn in the last 35 years, and on Wednesday, March 26, at 6 PM ET, he’s revealing how to recognize when the worst is over, the trades to make before the next bull market takes off, and the stocks and sectors that will lead the recovery.
Crude prices surged and energy stocks rose Monday after President Donald Trump vowed to slap a sweeping 25% tariff on any country that imports Venezuelan oil, signaling renewed geopolitical tensions in global energy markets.
West Texas Intermediate light crude, as closely tracked by the United States Oil Fund USO, rose over 1% to $69 per barrel, touching a three-week high.
"Any country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country," Trump said, adding that enforcement would begin next month and be "registered and documented."
The statement came via a post on Truth Social, where the former president accused Venezuela of sending violent criminals to the United States and branded the Tren de Aragua gang as a “Foreign Terrorist Organization.”
Trump added that the proposed secondary tariffs would go into effect on April 2, what he called "Liberation Day in America."
Read also: US Business Activity Rebounds As Services Growth Outpaces Forecasts, Yet Cost Pressures Intensify
Venezuela's oil exports have risen in recent years, and they remain a crucial revenue source for the embattled regime of Nicolás Maduro.
According to Reuters, Venezuela exported 772,000 barrels a day of crude last year, marking a 10% increase from a year earlier. China is widely considered the largest purchaser of Venezuelan crude, though much of the oil arrives through indirect routes or intermediaries that obscure its origin to sidestep international sanctions.
Beyond geopolitics, U.S. economic data on Monday gave oil another push. Business activity surveys in March came in stronger than expected, easing recession fears but raising concerns that input costs may be accelerating again.
US Energy Stock Reactions
The oil rally ignited gains across the energy sector. Exxon Mobil Corp. XOM rose 1.1% to $116.75 by 11:15 a.m. in New York, reaching its highest level price since early December. Chevron Corp. CVX added 0.4%, while ConocoPhillips COP gained 0.6%.
The Energy Select Sector SPDR Fund XLE climbed 0.6%, extending its year-to-date gain to 7.8%—the best performance among all S&P 500 sectors in 2025.
Read Next:
Photo: Shutterstock
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
