⚡️USO Drops Amid Oil Supply Concerns; Kinder Morgan Declines Amid Geopolitical Tensions and Market Volatility | Energy Sector Insights
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.
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Tuesday, February 25
XLE [-1.2%]
Energy Select Sector SPDR Fund
The Energy Select Sector SPDR Fund (XLE) has seen a decline of 1.2% during market hours on Tuesday. This downturn coincides with President Trump's confirmation of planned tariffs on imports from Canada and Mexico, which is expected to affect North American trade relations. Additionally, 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, OneMain Holdings, Williams Companies, Kinder Morgan, and Chevron, all reporting declines in their returns. Notably, an analyst has lowered the price target for Kinder Morgan while maintaining a Buy rating. Meanwhile, Brent crude oil prices have also dropped significantly, further influencing the movement of the energy sector equities.