Market News

Oil Trading Daily: Oil Closes Higher after Fed Meet Begins

The benchmark crude WTI finished 2.5% higher to settle at $69.33 per barrel as markets regain optimism and the crucial Fed meeting begins.

Meanwhile, natural gas jumped 5.6% to close at $2.348. Prices have corrected over 40% on a year-to-date basis.

Elsewhere, Russian oil exports to China are on the rise as trade between the two countries continues to grow in the backdrop of the Russia-Ukraine conflict.

In addition, the Energy Select Sector SPDR ETF (XLE) is also up 3.44% in today’s trading session but still remains 6.95% lower over the past three months. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.

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