(First published: 13:30 ET)
WTI crude oil finished the day down roughly 6% to $78.74 while continuing its slide over the past few weeks.
A combination of global geopolitical tensions and weakening consumer demand continue to keep prices volatile. The EU could bring in a new set of sanctions on Russia (including a price cap on Russian oil) as the country mobilizes reservists and a referendum begins in four Ukrainian territories held by Russia.
U.S. natural gas is at $6.85, down over 3% amid rising stockpiles. The price is now down approximately 30% over the past month.
Here are some stocks that could be affected by this news:
- Energy Select Sector SPDR Fund (XLE)
- United States Oil Fund LP (USO)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- Exxon Mobil (XOM)
- Chevron (CVX)
- Occidental Petroleum (OXY)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
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