Market News

Oil Continues to Rebound from Yearly Lows

First published: 5.40 a.m. EST

WTI crude oil closed today’s session at $82.15 per barrel, equating to a gain of 4.7%, as broader markets trade higher cautiously amid economic jitters and global currencies including Yuan, Yen, and Sterling showing weakness against the greenback.

Meanwhile, Hurricane Ian remains a key event to keep an eye on and EIA inventories came in at +0.2 million barrels as compared to estimates of +0.44 million barrels.

U.S. natural gas also closed higher today at $6.933, up 2.56%.

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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