#oil-prices

#oil-prices

TD Cowen cut its earnings estimates to reflect inflationary pressure from higher prices of oil-based inputs and potentially higher costs for tallow, which are up 40% versus a year ago on the Chicago Mercantile Exchange.

"Oil prices are higher again this morning, but Treasury yields are lower as the risks to economic growth begin to take precedence over the risks to inflation," Oxford Economics said in a note on Monday.

"If these other guys make the same mistakes they made six years ago, and if the forecast about $175 per barrel is right, you'll see airlines not survive," said United CEO Scott Kirby, highlighting the dire implications of rising oil prices on the aviation sector.

VDE is a pure-play on the U.S. energy sector, tracking the MSCI U.S. Investable Market Energy 25/50 Index and holding over 100 companies across the energy supply chain.

The S&P 500 is down 0.5%, or by 33 points. The SPDR S&P 500 ETF (SPY) is down 0.36%, or by $2.32. The Dow is down 0.45%, or by 208 points. The Nasdaq is down 0.73%, or by 173 points.