Trump outlines Venezuela oil strategy as Maduro captured; rand holds gains; Mag7 tech outlook diverges
- The US military captured Venezuelan President Nicolás Maduro at a military base in Caracas in a three-hour operation involving more than 150 aircraft launched from 20 bases to neutralize air defenses, with Secretary of State Marco Rubio defending it as a law enforcement operation that required military involvement but was not an invasion.
- President Trump stated the US will require total access to Venezuela's crude oil to rebuild the country's oil infrastructure and announced oil companies will invest billions in restoration, though he said the US will not invest anything itself.
- The rand has strengthened by 3% over the past month from over 17 rand to the greenback and traded at 16.53 this morning, while Bitcoin gained 2% overnight to $93,000 despite crude oil remaining relatively flat at just over $60 per barrel.
“The country is a mess. It's been horribly run. The oil is just flowing at a very low level, much lower than even if it was badly run, it should have more income, more oil than what they're doing. So, we're going to have the big oil companies go in and they're going to fix the infrastructure and they're going to invest.”