WTI Crude oil rallied 1.1% to settle at $68.35 per barrel in today’s trading session. Markets seemed to calm down after Credit Suisse was extended a lifeline by Swiss regulators. Nevertheless, uncertainty remains amid the growing stress on banks around the globe.
Meanwhile, the European Central Bank (ECB) continued its monetary tightening stance to control inflation and raised interest rates by 50 basis points.
When it comes to natural gas, it jumped 3.08% to close at $2.514 MMBtu.
In addition, the Energy Select Sector SPDR ETF (XLE) is up 1% today but down 1.38% in the past five days. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.