BCN-19 Oil prices rise amid strong energy stocks

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ZCZC

BCN-19

US-ENERGY-OIL-PRICE

Oil prices rise amid strong energy stocks

NEW YORK, Sept 5, 2019 (BSS/Xinhua) – Oil prices rose on Wednesday, along
with robust energy stocks, which extended gains during the day as market
worries over potential financial volatility were eased by some positive news.

The West Texas Intermediate for October delivery increased 2.32 U.S.
dollars to settle at 56.26 dollars a barrel on the New York Mercantile
Exchange, and Brent crude for November delivery rose 2.44 dollars to close at
60.70 dollars a barrel on the London ICE Futures Exchange.

The Cboe Volatility index, widely considered the best fear gauge in the
stock market, decreased 11.85 percent to 17.33 on Wednesday.

The energy sector surged nearly 1.4 percent as of market close, among the
best performers of the 11 primary S&P 500 sectors, all of which notched gains
on Wednesday.

Specifically, shares of Exxon Mobil and Chevron rallied 1.06 percent and
0.84 percent respectively, among the best performers in the 30 blue-chip
stocks in the Dow Jones Industrial Average.

Shanghai crude oil futures higher

Crude oil futures opened higher Thursday in daytime trading on the Shanghai
International Energy Exchange.

The most active crude oil contract for October delivery was up 15.4 yuan
(2.17 U.S. dollars) to open at 439.5 yuan a barrel.

China launched the crude oil futures trading, which is open to overseas
investors, in March 2018.

BSS/XINHUA/HR/1125