U - Bumpy ride for energy investors Tuesday as the XLE closes up 3%

Energy commodities were muted most of the day Tuesday, with oil (USO) down for the majority of the session, gasoline and diesel lower on the day, natural gas (UNG) flat and thermal coal down over 6.0%. However, bullish notes from Goldman and Jefferies lifted energy equities throughout the day, despite energy commodities trading lower and the broader market trading either side of flat through most of the session. Near the close, Bloomberg reported that the White House is seeking funds to acquire enriched uranium, a step that could lead to a Russian uranium import ban (URA). As equity markets rallied into the close, energy equities followed; high beta names like W&T (WTI), Laredo (LPI) and CRV (CVI) led the sector higher, even laggard Par Pacific (PARR) caught a bid, trading up 11% on the day. Coal too rallied, after Jefferies raised its commodity price outlook, names like Arch (ARCH) and Warrior

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Bumpy ride for energy investors Tuesday, as the XLE closes up 3%