The benchmark crude WTI fell 2.45% to settle at $74.80 per barrel as markets continue to weigh (albeit with a sigh of relief) the possible ripples from the swift collapse and shutdown of SVB Financial (NASDAQ:SIVB). This was the second biggest bank collapse in the country’s history.
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Elsewhere, Saudi Aramco has posted its highest-ever profit on the back of higher prices and volumes. In addition, billionaire investor Carl Icahn has taken his total stake in Southwest Gas (NYSE:SWX) to $530.32 million, or a 12.64% stake.
Meanwhile, natural gas managed to keep its head above water with a 7.24% gain to close at $2.606. Nevertheless, prices have now drifted roughly 44% lower over the past 52 weeks.
Furthermore, the Energy Select Sector SPDR ETF (XLE) is down 2.31% in today’s session and 2.1% lower year-to-date. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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