FANG - Crude oil rallies as U.S. stockpiles post seventh straight weekly decline

The energy sector (XLE +3.1%) topped today's S&P 500 standings, as crude oil jumped by more than 2% after U.S. government data showed domestic inventories fell for a seventh straight week, even as gasoline supply unexpectedly increased. November WTI crude (CL1:COM) closed +2.5% to settle at $72.23/bbl while November Brent crude (CO1:COM) also added 2.5% to $76.19/bbl. Four of today's top five S&P 500 gainers were oil and gas producers: APA +7.2%, DVN +6.8%, FANG +5.4%, MRO +5.3%. Also: HFC +6.2%, OXY +5.2%, COP +4.9%, PSX +4.1%, MPC +3.5%, EOG +3.3%. ETFs: USO, XOP, VDE, OIH U.S. crude inventories last week fell by 3.5M barrels to 414M barrels, the lowest since October 2018, according to the U.S. Energy Information Administration. The report was bullish overall, as crude supplies are "only going to get worse in the coming weeks" because inventories are "stretched and refiners are coming on back faster than

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Crude oil rallies as U.S. stockpiles post seventh straight weekly decline