WTI crude oil has added nearly another 3%, now at $75.37 per barrel, its highest intraday level since 2014. USO +2.9%
That’s helping the Energy Select SPDR (XLE +1.7%) far outperform the S&P 500’s 0.4% advance.
What’s moving oil? Take your pick, but the team at Commerzbank sees Iranian oil exports tumbling by about 2M barrels per day, with not a lot of spare OPEC capacity to make for that.
ETFs: USO, XLE, OIL, UWT, UCO, VDE, DWT, ERX, OIH, SCO, BNO, DBO, ERY, DIG, UGA, BGR, DTO, FENY, USL, IYE, DUG, FIF, DNO, OLO, RYE, PXJ
Original Source: Here
