XLE - WTI crude tops $122; UAE oil minister says prices 'nowhere near' peak

The energy sector (XLE) clung to gains Wednesday and ended as the only winner in the S&P 500, with crude oil rising to a 13-week high on Wednesday as U.S. demand for gasoline keeps climbing despite record high pump prices. WTI futures (CL1:COM) settled +2.3% at $122.11/bbl after trading as high as $122.96/bbl, following U.S. government data that showed gasoline stockpiles fell by a surprise 800K barrels last week, U.S. crude inventories rose unexpectedly, and crude in the Strategic Petroleum Reserve fell by a record amount. ETFs: (NYSEARCA:USO), (UCO), (SCO), (USL), (DBO), (USOI), (NRGU), (OILK), (OLEM) Exxon Mobil (NYSE:XOM) hit a record $105.57 intraday before settling +1.2% for an all-time closing high $104.59, while Chevron (CVX) reached a record $182.40 before ending +0.5% at $181.13, and Valero (VLO) posted a record $146.81 before closing -0.9% at $143.77. Also attaining record highs during the day: (OAS), (MTDR), (WLL), (CIVI). Oil prices

For further details see:

WTI crude tops $122; UAE oil minister says prices 'nowhere near' peak