Market News

Oil Trading Daily: Oil Gains Even as U.S. Stockpiles Rise

WTI crude oil climbed 1.23% on Friday to settle at $76.32. The rise in oil prices has been fueled by Russia’s curb on exports and oil production. However, this has been offset by rising oil inventories as the official data from the U.S. EIA on Thursday indicated that the inventories increased by 7.648 million barrels compared to expectations of 2.083 million.

Oil stockpiles in the U.S. are at their highest level since May 2021. Meanwhile, natural gas rose by 5.92% to close at $2.451.

In addition, the U.S. Oil ETF (USO) is up by 0.93% at the time of writing. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More