Crude Inventories Lower than Expected, Energy Shares Gain Ground (XOM, COP, CVX, MRO, USO, OIL)
Crude oil inventories reported stockpiles of 1.02 million barrels today, ahead of the 1.5 million that analysts surveyed by Dow Jones Newswires expected. Tropical Storm Ida delayed cargoes two weeks ago, leading analysts to believe that crude imports would add to the stocks.
Energy companies, ETN's, and ETF's benefiting include:
- Exxon Mobil Corp. (NYSE: XOM) up 0.63% to $76.45;
- Chevron Corp. (NYSE: CVX) rises 0.82% to $79.68;
- ConocoPhillips (NYSE: COP) up about 0.25% to $52.81;
- iPath S&P GSCI Crude Oil Ttl Ret Idx ETN (NYSE: OIL) up over 1% to $25.76;
- United States Oil Fund LP (NYSE: USO) jumps 1.14% to $39.02;
- Marathon Oil Corporation (NYSE: MRO) up 1.30% to $33.43;
- PowerShares DB Oil (NYSE: DBO) rising 0.55% to $27.29.
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