The benchmark crude WTI closed 0.66% higher to settle at $75.12. Traders seemed to be cautiously optimistic after U.S. Fed Chair Jerome Powell spoke today.
Elsewhere, tanker company Frontline (FRO) has terminated its $4 billion merger with Euronav (EURN). Consequently, Frontline shares soared in today’s session.
Meanwhile, natural gas fell by 6.93% to close at $3.639 as production levels remain buoyant and temperatures remain unusually warm in the first month of 2023. The Energy Select Sector SPDR ETF (XLE) has risen 3.9% over the past five sessions as optimism on China’s reopening abounds.
Here are related energy stocks 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)
- Bloom energy (BE)
- Occidental Petroleum (OXY)
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