Oil Drops, Metals Surge: Markets Digest Venezuela News

The new week begins with clear answers after a tense weekend, and markets are reacting in a way that makes logical sense. Despite uncertainty surrounding the capture of Nicolás Maduro, investors are firmly in risk-on mode. Equity futures are pushing higher, supported not only by geopolitical interpretation but also by seasonality. This is still the classic Santa Rally window—the final five trading days of the year plus the first two of the new one—and with Friday already behind us, today marks the second key session where bullish bias traditionally dominates. For now, equities are following that script.

Commodities are where the weekend developments are being priced most aggressively. Oil is clearly under pressure. After a brief Asian-session spike higher, prices reversed sharply and moved lower, which aligns with expectations: the capture of Maduro raises the prospect of Venezuelan oil supply returning to global markets, increasing supply and weighing on prices. In contrast, metals are enjoying a strong bullish session. Copper is up around 3%, gold about 2%, platinum roughly 4%, and silver leads the complex with gains near 6%. This shows broad-based appetite for real assets, not just a single-metal story.

Cryptocurrencies are also participating in the optimism. Bitcoin is pushing higher, extending gains after breaking out of a multi-week symmetric triangle. The current move puts the mid-November highs back into focus as a natural upside target. On the currency market, the picture is straightforward: the American dollar is dominant, gaining across the board, while most other major currencies are trading lower. For now, the dollar is acting as the preferred anchor in a market digesting geopolitical change, strong metals, weak oil, and a bullish seasonal equity backdrop.

Source: https://www.axiory.com/analytics/market-news/oil-drops-metals-surge-markets-digest-venezuela-ne