The MarketReader Minute
(XLE) has seen premarket gain. This uptick coincides with the announcement of a 25% tariff on steel and aluminum imports, which raises concerns for U.S. oil refiners due to increased processing costs.
The MarketReader Minute
South Korea's plans to discuss energy cooperation with the U.S. amidst tariff concerns have also drawn attention to XLE. The top contributors to the ETF's performance include ExxonMobil, Chevron, ConocoPhillips, Valero Energy, and ONEOK, all of which have shown increased returns.
The MarketReader Minute
(XLE) has seen a price increase of 1.5% during market hours on Friday. This movement coincides with significant macroeconomic developments, including the U.S. government's consideration of easing sanctions on Russian oil exports.
The MarketReader Minute
(XLE) has experienced a decline since Friday. Significant contributors to this downturn include ExxonMobil (XOM), EOG Resources (EOG), ConocoPhillips (COP), Chevron (CVX), and Marathon Petroleum (MPC), all of which reported negative returns.
The MarketReader Minute
New U.S. sanctions targeting Iran's oil industry have been imposed, impacting global supply dynamics amid ongoing geopolitical tensions. Among the ETF's holdings, significant contributors to the negative performance include ExxonMobil, Williams Companies, Kinder Morgan, and Chevron.
The MarketReader Minute
(XLE) has seen a decline of 0.9% since Thursday. Among the ETF's holdings, notable contributors to the decline included ConocoPhillips (COP), ExxonMobil (XOM), Diamondback Energy (FANG), Baker Hughes (BKR), and Targa Resources (TRGP), all experiencing negative returns.
The MarketReader Minute
The U.S. Energy Information Administration reported a notable increase in crude oil inventories, which rose by 4.6 million barrels last week, approximately 3% below the five-year average for this time of year. This data coincides with the XLE's current daily return of +0.3%.
The MarketReader Minute
Oil prices have decreased today due to the potential for a peace deal in Ukraine. This development raises expectations of lifted U.S. sanctions on Russia's energy sector, which could increase global crude supply and negatively impact XLE.
The MarketReader Minute
(XLE) has seen a price increase of 0.9% since Friday. President Trump's announcement of a 25% tariff on steel and aluminum imports is expected to escalate trade tensions, potentially raising costs for energy companies. This comes amid rising input prices and broader economic uncertainties.
The MarketReader Minute
(XLE) has seen a price increase of 1.4% today. Oil prices have dropped significantly, trading down approximately 3%, amid geopolitical tensions following President Trump's announcement to delay tariffs on Canadian and Mexican imports.
The MarketReader Minute
(XLE) has seen a slight decline of 0.1% in pre-market trading. President Trump announced the imposition of 25% tariffs on imports from Canada and Mexico, effective February 1, which may influence trade relations and oil prices.
The MarketReader Minute
(XLE) has seen a modest increase of 0.24% amid broader market challenges. Oil prices remain under pressure, driven by disappointing Chinese trade data that raises concerns about global oil demand.
