WTI Crude oil finished 0.18% lower at $85.46 per barrel after last week’s rout, as global economic worries continue to dampen sentiment.
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Energy producers in the U.S. are not expected to ramp up production while OPEC’s supply cut begins to kick in. Moreover, rising costs could possibly mean a cutback in rigs in the U.S.
In the meantime, U.S. natural fell 7.04% to $5.999 today, as it continued its downward march.
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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