⚡️XLE Rises on Middle East Tensions as Crude Oil Surges, While USO and BOIL Slip Amid Supply Disruptions and Economic Uncertainty | Energy Sector Insights
XLE has experienced a daily return of 0.18%, coinciding with a notable surge in crude oil prices of over 3%. This increase is attributed to escalating tensions in the Middle East, particularly Israel's intensified military actions against Lebanon and potential threats to Iranian oil sites.
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Friday, October 11
XLE [+0.5%]
Energy Select Sector SPDR Fund
The Energy Select Sector SPDR Fund (XLE) has experienced a daily return of 0.18%, coinciding with a notable surge in crude oil prices of over 3%. This increase is attributed to escalating tensions in the Middle East, particularly Israel's intensified military actions against Lebanon and potential threats to Iranian oil sites. Among the ETF's holdings, Kinder Morgan Inc (KMI) was a significant contributor, with a strong return prompting Mizuho to raise its price target for the company, reflecting positive analyst sentiment. Meanwhile, the Michigan Consumer Sentiment report revealed a disappointing score of 68.9, which fell short of expectations and marked a new four-week low. Such sentiment reports typically elicit a strong reaction from XLE, moving more than usual in response to economic indicators.