Latest News for PXJ
WTI approaches major $110 resistance as its rising channel keeps higher targets, including $119, in play.
Oil is increasingly calling the tune in global markets as rising energy prices make investors nervous.
Plus, 10-year Treasury yield briefly hits 2007 levels and the Senate deals a blow to crypto industry
Prices for some physical oil cargoes in Europe have jumped to more than $130 a barrel on Tuesday, approaching record highs reached in April, as buyers rush to find alternatives to Middle East supplies facing increasing disruptions from intensifying conflict in the region.
Oil futures rose amid market pessimism about flows out of the Middle East following the outage of a key Saudi pipeline and the increased Houthi threat to Red Sea shipping.
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