The benchmark Crude WTI is up 2.41% to $88.55 today at 4.31 a.m. EST, rising higher as optimism abounds in the broader markets after the latest October CPI print.
The Energy Select Sector SPDR ETF (XLE) too is up ~1% today after clocking a 2.23% rise yesterday.
Occidental Petroleum (OXY) is expecting expenses to rise as costs trend higher amid inflationary woes. The company is setting up the biggest direct air capture project in the world in Texas and costs are now estimated to be 22% higher than previously thought.
Natural gas in the meantime is down marginally by 0.18% to $6.23 today.
Here are related tickers for this article:
- United States Oil Fund LP (USO)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
- Chevron (CVX)
- ConocoPhillips (COP)
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