Market News

Oil Trading Daily: Oil and Nat Gas Close Higher

The benchmark crude WTI gained 0.83% to settle at $77.69. The latest numbers from the American Petroleum Institute indicate oil inventories in the U.S. increased by 6.2 million barrels in the week ended February 24.

The U.S. Energy Information Administration released its Weekly Distillates Stocks report, which came in at 179,000 compared to estimates of -462,000. In addition, natural gas increased by 2.33% to close at $2.811 today. Prices have been rallying well over the past five trading sessions.

Meanwhile, the Energy Select Sector SPDR ETF (XLE) has remained largely flat so far this year. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.

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