Energy subsector ETFs
In the week ending April 26, major energy subsector ETFs had the following performances:
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Last week, US crude oil prices fell 1.2%, while natural gas active futures rose 1.8%. On April 26, US crude oil prices had the third-highest one-day decline in 2019. Apart from weakness in oil prices, earnings-related sentiments might have dominated these energy ETFs. US downstream stocks account for ~30.1% of CRAK. The stocks could be impacted positively by another rise in the Brent-WTI spread this week. Last week, the Brent-WTI spread expanded by ~$1.
Energy sector performance
Last week, US crude oil June futures fell 1.2%, while the Energy Select Sector SPDR ETF (XLE) fell 1.4%. XLE had the largest decline among the sector-specific SPDR ETFs under review, despite a 1.2% rise in the S&P 500 Index (SPY) last week.
Last week, the Health Care Select Sector SPDR Fund (XLV) rose 3.6%—the largest rise among the sector-specific SPDR ETFs. Most of the sector-specific SPDR ETFs closed in the green last week.