The benchmark crude WTI closed 1.17% higher to settle at $73.77. Major markets around the globe have been rising today as optimism abounds on China reopening from its strict zero Covid-19 policy.
The development is also providing a fillip to oil as demand could see an uptick. Bloom Energy (NYSE:BE) is expanding its presence to Spain and Portugal and is teaming up with Telam Partners for opportunities in distributed power and electrolyzers.
With a focus on the hydrogen economy, Bloom will also offer its solid oxide electrolyzer and energy server fuel cell in the region.
Bloom shares have gained more than 6% over the past six months and are up a further 4.68% in today’s session so far.
In sync with crude, natural gas closed 5.3% higher to settle at $3.91. The Energy Select Sector SPDR ETF (XLE), which tracks the performance of energy stocks, has now gained about 23% over the past six months.
Here are related tickers for this article:
- United States Oil Fund LP (USO)
- Exxon (XOM)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
- ConocoPhillips (COP)
- Chevron (CVX)
- Occidental Petroleum (OXY)
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