WTI crude oil closed 1.95% lower in today’s session to $89.35, showing weakness after recent gains as a contraction in China’s latest PMI print further aggravates growth worries amid a host of global factors including inflation, rising rates, plummeting currencies against the U.S. Dollar and ever-escalating Ukraine-Russia conflict.
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However, U.S. natural gas gained 2.5% to reach $6.596, but still trending ever closer to the crucial June bottom levels.
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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