⚡️XLE Gains on U.S.-EU $750B Energy Deal and Crude Price Momentum | Energy Sector Insights
(XLE) is up 0.9% since Monday, supported by a landmark U.S.-EU trade agreement securing \$750B in American energy purchases over three years. Crude oil prices have risen nearly 0.7% to \$67, with Brent up 3.28%. Top contributors include Exxon Mobil, ConocoPhillips, and Williams Companies.
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Tuesday, July 29
XLE [+0.9%]
Energy Select Sector SPDR Fund
The Energy Select Sector SPDR Fund (XLE) has seen a price increase of 0.9% since Monday. A significant trade agreement between the U.S. and the European Union has been finalized, with the EU committing to purchase $750 billion in American energy products over three years, potentially enhancing demand for U.S. energy companies represented by XLE. Concurrently, crude oil prices have risen nearly 0.7%, approaching $67 per barrel, aided by easing tariff concerns linked to this deal. Notable contributors to XLE's performance include Exxon Mobil (XOM), ConocoPhillips (COP), and Williams Companies Inc. (WMB), with the latter announcing a quarterly cash dividend. Additionally, Brent crude oil prices have increased by 3.28%, which may also be influencing the movement in XLE.