In a week where markets digested major rate hikes in the U.S. and the U.K. and a host of sectors led by tech saw a bloodbath, oil is set to cap a period of steady gains.
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WTI crude oil closed 5.04% higher to $92.61 in today’s trading session, as it finally crossed over the $90 mark and is now up over 7% over the past five trading days.
Prices continue to display strength as winter approaches and global geopolitical tensions continue to cause market jitters.
In addition, U.S. natural gas closed 7.11% higher to $6.40 today.
The Energy Select Sector SPDR ETF (XLE) is now up 64.7% year-to-date.
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)
- Exxon (XOM)
- Chevron (CVX)
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