The benchmark crude WTI fell 2.78% to settle at $76.34 per barrel in today’s trading session. Natural gas also fell, as it declined by 4.77% to close at $2.275 as markets assess the possible trajectory of inflation.
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PPI numbers yesterday pointed to rising wholesale costs, and the Fed could take longer to reign in inflation. This, in turn, could also mean more rate hikes in the offing. Initial jobless claims also point to a similar possible turn of events.
Meanwhile, the Energy Select Sector SPDR ETF (XLE) is down 3.38% so far today. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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