COM - Oil edges lower after topping $120/bbl but eight stocks hit all-time highs

Crude oil prices pushed past $120/bbl to their highest levels in three months on Monday after Saudi Arabia raised the official selling price of its Arab light crude to Asia, but eased lower by the close of trading. "Energy traders are confident this oil market will remain tight given the short-term supply outlooks from both OPEC+ and the U.S., but... exhaustion could be setting in," according to Oanda's Ed Moya, as oil has rallied more than 50% YTD. WTI crude for July delivery (CL1:COM) settled -0.3% at $118.50/bbl, after trading as high as $120.99, and August Brent crude (CO1:COM) closed -0.2% at $119.51/bbl. July natural gas (NG1:COM) ended +9.4% at $9.322/MMBtu, the highest close for a front-month contract since August 2008. Energy stocks (NYSEARCA:XLE) broadly closed about even, but at least eight individual names - (NYSE:COP), (EOG), (MPC), (VLO), (CIVI), (WLL), (OAS) and (MTDR) - touched all-time highs during the

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Oil edges lower after topping $120/bbl, but eight stocks hit all-time highs