WTI crude oil surged 5.13% to settle at $72.81 per barrel in today’s trading session. The bout of optimism stems from First Citizen’s acquisition deal for Silicon Valley Bank and a possible expansion of the emergency lending mechanism for banks in the U.S.
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At the same time, Russia’s tactical nuclear weapons move in Belarus remains a key development to keep an eye on.
Meanwhile, natural gas is resuming its long-term slide with a drop of 5.78%. Indeed, prices closed at $2.088, a level last seen in mid-February.
In addition, the Energy Select Sector SPDR ETF (XLE) is also up 2.54% in today’s session. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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