Despite a decline in crude oil prices, European oil giants rose in early trading. Investors weighed geopolitical risks against the threat of oversupply, and oil prices reacted largely indifferently to U.S. intervention in the situation in Venezuela. Ipek Ozkardeskaya of Swissquote wrote that oil stocks have been the biggest beneficiaries of developments in Venezuela. In London, BP rose 1.4% and Shell rose 1.1%. Spain’s Repsol edged up 1.1%, while Italy’s Eni rose 0.2%.