The benchmark crude WTI slipped 0.13% to settle at $78.49 per barrel. On the other hand, natural gas fell 3.31% to close at $2.389, as the weekly chart suggests continued price weakness.
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The latest numbers from the Energy Information Administration indicate crude inventories in the U.S. rose by 16.3 million barrels in the week ended February 10. The figure came in far ahead of what the Street was looking for, as well as the prior week’s 2.4 million barrel increase.
The Energy Select Sector SPDR ETF (XLE) is now up 6.65% so far this year. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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