The benchmark crude WTI gained 2.7% to settle at $76.78 per barrel in today’s trading session. Nevertheless, prices are still below their recent highs from earlier in the month when prices hovered around the mid-$83 per barrel range.
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The pullback from highs comes as recession worries remain an overhang coupled with a bout of uncertainty from the U.S. Fed meeting next week.
Natural gas, on the other hand, gained 2.34% to close at $2.41 per MMBtu. The Latest numbers from the Energy Information Administration indicate natural gas stocks in the U.S. rose by 79bcf to 2,009bcf during the week ended April 14.
Furthermore, the United States Oil Fund ETF (USO) is up 2.51% so far with energy majors Exxon (XOM) and Chevron (CVX) delivering an earnings beat for Q1. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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