Updated from 11:45 a.m. EDT with new stock prices
Exchange-traded funds tracking crude oil were the best performers of Wednesday's session, as a bullish inventory report from the Energy Department sent oil prices above the $94-a-barrel level.
Earlier, the Energy Department said oil stocks unexpectedly dropped by 3.9 million barrels last week, compared with expectations of a slight advance. A day after crude dropped 3.4%, the December contract was up today at $94.53 a barrel.
United States Oil
ETF was rising $3.74, or 5.4%, to $73.28. The
iPath S&P GSCI Crude Oil Index
added $2.70, or 5.2%, to $54.29. The
Ultra Oil & Gas ProShares
was up $4.41, or 4%, to $113.50.
Bundled securities following Asian markets were also higher during the current session. Overnight, China's CSI 300 Index advanced 1.7%, and indices in India, South Korea and Japan also finished higher.
iPath MSCI India Index
was recently up $3.81, or 4.3%, to $91.81. The
iShares MSCI South Korea Index
was higher by $2.60, or 3.6%, to $74.85. The
SPDR S&P China
climbed $ 4.04, or 3.7%, to $113.20.
On the other hand, several of the HealthShares ETFs were losing ground after Germany-based
released disappointing results of a phase III clinical study for its prostate cancer treatment. Shares were off more than 58% overseas, while
, which licensed the treatment in 2002, dropped 8.5%.
HealthShares Emerging Cancer
shed 70 cents, or 3.4%, to $19.86. The
HealthShares GI/Gender Health
was down 85 cents, or 3.4%, to $23.98. The
was off 19 cents, or 0.8%, to $23.61.
Internet Infrastructure HOLDRs
was also losing ground after Deutsche Securities downgraded holding
to hold from buy. The stock was recently down 1.4%, and the Internet Infrastructure HOLDRs was falling 3 cents, or 0.5%, to $5.75.