The benchmark crude WTI saw a small gain of 0.11% to settle at $80.70 per barrel as markets try to digest today’s jobless claims report. The figures sparked some worries about a recession as they came in higher than expected.
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The latest numbers from the Energy Information Administration indicate crude inventories in the U.S. declined by 3.7 million barrels in the week ending March 31.
Energy major Shell (NYSE:SHEL) has updated its first-quarter outlook. The company sees its Integrated Gas Unit doing well but expects losses in its corporate unit.
Meanwhile, natural plunged 6.68% to close at $2.011 today. Prices continue to remain under pressure as supply outstrips demand.
Furthermore, the Energy Select Sector SPDR ETF (XLE) is now up nearly 16.34% over the past 52 weeks. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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