Market News

Crude Oil Falls as Natural Gas Surges

WTI crude oil closed 1.56% lower to $86.53 per barrel but continues to display strength on macro factors (OPEC supply cut, Europe shunning Russian oil) and could inch up to $90 levels.

Energy majors Exxon (XOM) and Chevron (CVX) displayed robust quarterly performance on the back of higher oil and gas prices. Furthermore, the Energy Select Sector SPDR ETF (XLE) has now climbed ~25% in the past month alone.

In addition, U.S. natural gas closed 11.8% higher to finish at $6.355.

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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