The benchmark Crude WTI is down 1.39% to $87.84 today at 5.07 a.m. EST. With support at $85 levels, crude is inching up towards the $90 mark this week as OPEC’s supply cut and Europe shunning Russian oil continue to support prices.
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Energy stocks remain in the spotlight with Exxon (XOM) and Chevron (CVX) slated to report third-quarter earnings today. Exxon is expected to post an EPS of $3.86 today after comfortably cruising past expectations in the second quarter.
Chevron too is expected to post an EPS of $4.85, significantly higher than last year’s figure of $2.96.
U.S. natural gas in the meantime is down 1% to $5.82 today. Shares of Exxon and Chevron have surged ~25% each in the past month already.
Here are related tickers for this article:
- United States Oil Fund LP (USO)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- Occidental Petroleum (OXY)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
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