Market News

Oil Trading Daily: Oil Plunges as Market Rout Continues

WTI crude oil plunged 5.22% to settle at $67.61 per barrel in today’s trading session as bears continue to tighten their grip across global markets. Prices have now reached their lowest level since December 2021.

After the SVB Financial (NASDAQ:SIVB) led drop, Credit Suisse (DE:CSX) (NYSE:CS) is creating new ripples today after the company disclosed a material weakness in its 2022 report.

While oil is now down more than 10% over the last five sessions, natural gas is also continuing its losing streak with a 5.21% drop today. As a result, prices closed at $2.439 MMBtu.

The Energy Select Sector SPDR ETF (XLE) is also down over 5% so far in today’s trading session. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.

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