Market News

Oil Trading Daily: Oil Remains Weak on Macro Woes

The benchmark crude WTI is up 0.48% to $76.70 today at 7.22 a.m. EST. but is still down 4.4% so far in 2023. Natural gas too remains on a weak footing and has lost 49.4% so far this year and is hovering at $2.25 today.

A plethora of challenging macro factors continue to weigh on prices. This includes the ever-increasing possibility of the U.S. Fed tilting the scales toward a recession given the latest inflation print, ample oil supply in the market, and weak consumer sentiment.

Meanwhile, the Energy Select Sector SPDR ETF (XLE) too has dropped about 6.7% over the past month. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.

Read full Disclosure

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