Could There Be Dark Clouds Ahead for Oil?
Yesterday, US crude oil September futures rose 0.7% and settled at $68.24 per barrel. Meanwhile, oil-weighted stocks Pioneer Natural Resources (PXD), Apache (APA), Denbury Resources (DNR), and California Resources (CRC), which benefit from higher oil prices, rose 0.4%, 0.2%, 0.5%, and 0.3%, respectively.