The benchmark Crude WTI is down 1.61% to $88.55 today at 5.30 a.m. EST. in sync with the broader markets across the globe turning lower after a fourth consecutive rate hike by the Federal Reserve.
The latest numbers from the Energy Information Administration (EIA) indicate crude reserves slid by 3.1 million barrels last week. The markets had expected inventories to rise modestly for the period.
U.S. natural gas too, is now down ~3.56% to $6.04 today but could bounce back as the weather turns colder.
Here are related tickers for this article:
- United States Oil Fund LP (USO)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
- Exxon (XOM)
- Chevron (CVX)
- Energy Select Sector SPDR ETF (XLE)
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