WTI crude oil finished 0.87% higher, closing at $85.32 amid strong broad-based market momentum. U.S. natural gas too, finished 7.96% higher to $5.613 today, trying to gain some lost ground over the last week.
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A challenging macro outlook globally combined with a strong U.S. Dollar could threaten to derail the growth trajectory of a number of emerging countries that are chiefly energy importers.
As talk of a Fed pivot slowly loses steam an ever-growing possibility of a recession could weaken market sentiment.
Here are some stocks that could be affected by this news:
- Energy Select Sector SPDR Fund (XLE)
- United States Oil Fund LP (USO)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- Exxon Mobil (XOM)
- Chevron (CVX)
- Occidental Petroleum (OXY)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
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