© Reuters. Afternoon surge carries oil past $57 per barrel
- Up just modestly most of the session, black gold has jumped sharply over the last hour, with WTI crude now ahead 2.6% to $57.08 per barrel – the highest price since the middle of 2015. USO +2.45%
- The stepped-up pace of the corruption crackdown in Saudi Arabia, including some very high-profile arrests, was thrown out as the excuse for buying earlier in the session. No word on what might be behind this afternoon’s action.
- The energy sector is a big outlier to the upside today, with the XLE up 2% vs. the S&P 500‘s 0.15% advance.
- ETFs: USO, XLE, OIL, UWT, UCO, VDE, DWT, ERX, XOP, SCO, OIH, BNO, DBO, ERY, DIG, UGA, DTO, BGR, USL, FENY, DUG, IYE, GUSH, IEO, DRIP, FIF, DNO, PXE, NDP, OLO, RYE, SZO, PXJ, UHN, FXN, OLEM, CRAK, DDG, NANR, OILK, WTIU, OILX, WTID
- Now read: Which Way Wednesday – S&P 2,500 Or Bust!