Oil Stocks Surge As Crude Prices Jump 3.4%; Energy Market Flashes Positive Signals - SPDR Select Sector Fund
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U.S. oil company stocks are rallying in Wednesday's session, with the Energy Select Sector SPDR Fund XLE up 2%, fueled by a 3.4% increase in WTI crude oil prices as a result of a confluence of positive headlines over the past few weeks.
On Monday, the U.S. Department of Energy announced the purchase of up to three million barrels of crude oil for delivery in August to begin…
This story from benzinga.com was posted on 2023-05-19 by @geovent.