WTI crude oil is up over 0.7% to $83.64 today at 4:07 p.m. EST after giving up yesterday’s early gains in a volatile session.
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Russia’s force mobilization and talk of nuclear warfare were overshadowed by the U.S. Fed’s rate hike yesterday. While the dollar continues to rise, Japan is propping up the Yen after a long time.
With more rate hikes possibly in the offing, a lower demand scenario has pushed oil lower in recent weeks.
In the meantime, U.S. natural gas is down over 7% to $7.20, continuing its losing streak 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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