⚡️XLE Gains on OPEC's Production Delay; Marathon Petroleum & Targa Resources Lead ETF Performance Amid Rising Crude Prices | Energy Sector Insights
(XLE) has seen a price increase of 0.7% during Tuesday's trading session, coinciding with OPEC's decision to delay plans for increasing oil production, which has led to a rise in crude oil prices.
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Tuesday, November 5
XLE [+0.7%]
Energy Select Sector SPDR Fund
The Energy Select Sector SPDR Fund (XLE) has seen a price increase of 0.7% during Tuesday's trading session, coinciding with OPEC's decision to delay plans for increasing oil production, which has led to a rise in crude oil prices. This development aligns with the ETF's daily return of 0.13%. Key contributors to XLE's performance include Marathon Petroleum Corp, which reported strong third-quarter earnings and a significant increase in share repurchase capacity, as well as Targa Resources Corp, which announced increased net income and plans for a future dividend. Additionally, the S&P Global Composite PMI for the U.S. showed slight improvement, indicating steady growth in business activity despite challenges in manufacturing, while the Services PMI also reflected expansion, albeit below expectations.