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Crude Oil Eyes Highest Close In 7 Weeks As Inventories Drop More Than Expected: Energy ETF, Stocks On The Move

WTI light crude oil up 0.3% past $81/bbl, highest close since April. US crude, gasoline, distillate inventories decline, raising concerns of insufficient supply. Rising oil prices may impact inflation and US election. Biden admin may release more oil from strategic stockpile. Energy stocks rise 1.5% on Thursday.


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S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What’s Driving Markets Thursday?

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, which dampened risk sentiment.