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.
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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