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Energy ETFs Advance on U.S. Supply Concerns

From etftrends.com

Energy sector-related exchange traded funds rallied on Monday, with crude oil prices touching a near six-week high, after the U.S. government agreed to release some supply from its emergency reserve in response to ongoing output concerns in the wake of Hurricane Ida. On Monday, the ALPS Alerian MLP ETF (NYSEArca: AMLP) increased 1.1% and JPMorgan Alerian MLP Index ETN (NYSEArca: AMJ) advanced 1.2%. The more widely observed Energy Select Sector SPDR Fund (NYSEArca: XLE) gained 2.1%. Meanwhile, the United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, and the United States ... (full story)

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  • Category: Fundamental Analysis