⚡️Targa Resources Posts Modest Growth, Occidental Petroleum Reduces Debt and Raises Dividend | Energy Sector Insights
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%.
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Thursday, February 20
XLE [+0.3%]
Energy Select Sector SPDR Fund
The U.S. Energy Information Administration reported a notable increase in crude oil inventories, which rose by 4.6 million barrels last week, reaching 432.5 million barrels, approximately 3% below the five-year average for this time of year. This data coincides with the Energy Select Sector SPDR Fund's current daily return of +0.5%. Geopolitical tensions and President Trump's proposed tariffs on imports may also influence market dynamics affecting energy equities within the fund's portfolio. Social media discussions highlighted Trump's commitment to significant tax reductions, mentioning the Energy Select Sector SPDR Fund among other tickers. Among the ETF's holdings, Exxon Mobil Inc. reported a share price increase, while Occidental Petroleum Corp announced a reduction in near-term debt and a raised quarterly dividend.