Market News

Oil Trading Daily: Oil Falls as Nat Gas Soars

The benchmark crude WTI fell 1.64% to settle at $79.68 per barrel. Chevron has delivered a $4.09 EPS for the fourth quarter on revenue of $55 billion.

While oil is eking out steady gains, natural gas jumped 5.6% to close at $3.109. However, prices have now tanked over 60% in the last six months, and weak sentiment persists owing to a milder winter and elevated gas supplies in the market.

The upcoming OPEC meet, announcements by the U.S. Fed next week, and Ukraine getting a stream of tanks from multiple countries are key events that could shape the price trajectory over the next few weeks.

The Energy Select Sector SPDR ETF (XLE) has gained 23.11% over the past six months, and here is a list of energy stocks that can be influenced by the latest developments in the energy markets. 

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