Market News

Oil Trading Daily: Crude Oil Gains despite Market Fears

Global markets are lower today as troubles at SVB Financial (NASDAQ:SIVB) are causing fear throughout the financial sector. Additionally, jobs data came in hotter than expected. However, WTI crude oil climbed 1% in today’s trading session to settle at $76.68 per barrel.

On the other hand, natural gas fell 4.44% to close at $2.43 per MMBtu. The latest numbers from the Energy Information Administration indicate that natural gas inventory in the U.S. dropped by 84 bcf to 2,030 bcf during the week ended March 3.

Meanwhile, the Energy Select Sector SPDR ETF (XLE) has been on a downtrend over the past five sessions, as it lost 4.64% during this timeframe. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.

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