According to The Kobeissi Letter, Chevron (CVX) rose about 11% in overnight trading, implying roughly a $35 billion market-cap increase on headlines it described as the US taking control of Venezuela (source: The Kobeissi Letter). The Kobeissi Letter also highlighted Venezuela’s roughly 303 billion barrels of proven reserves and the heavy-crude composition, a reserves figure corroborated by OPEC statistical reports (sources: The Kobeissi Letter; OPEC Annual Statistical Bulletin). Texas and Louisiana host multiple large heavy-crude refineries, making US Gulf Coast margins sensitive to shifts in Venezuelan heavy supply (source: US Energy Information Administration refinery configuration and capacity data). For near-term positioning, such flows typically favor integrated majors and heavy-crude-focused refiners over light-sweet producers, while heavy–light differentials and crack spreads can adjust to supply headlines (source: US Energy Information Administration analysis of refinery feedstocks and margins). Crypto impact: energy is a dominant operating cost for BTC miners; off-grid operations using diesel are more exposed to oil price moves, while grid-connected miners are primarily tied to regional power tariffs driven by gas and renewables in many US markets (sources: Cambridge Centre for Alternative Finance on mining electricity costs; US Energy Information Administration on US generation mix and diesel dynamics).