The SPDR S&P Oil & Gas Exploration ETF jumped on Monday after the drone attack on Saudi Arabian oil facilities knocked out half of the kingdom's production.
Market history shows that the bullish trade in the ETF, which trades under the symbol XOP, may continue. Energy stocks were rising on Monday along with oil prices after the weekend attack on the world's largest oil production facility in Saudi Arabia forced the Kingdom to cut its oil output in half. The market repercussions were swift, with the S&P energy sector moving out of bear market levels. The easiest way to make a broad bet on a continued surge in energy stocks is exchange-traded funds rather than than attempting to pick individual winners in the sector. Recent trading history suggests the gains may continue. rose on Monday, with about 40% of the components moving higher by 10% or more.
In the past five years XOP has jumped more than 5% in a single trading session on 13 occasions. Two weeks later, the ETF typically adds another 3.5%, trading positively about 70% of the time, according to Kensho data.
Source: News Formal (newsformal.com)
Long positions for oil are way more than shorts. So, yes. I agree that.
Too bad it took so many lives in the process oil bloodmoney
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US blames Iran for strikes on Saudi oil facility: 'Unprecedented attack on world's energy supply'Saudi Arabia has shut down half of its oil production after drones attacked the world's largest oil processing facility in the kingdom, The Wall Street Journal reported. It's about time someone attacks the actual suppliers of the 9/11 hijackers, instead of selling them weapons. Great Job Iran! Looks like we are going need those energy efficient lightbulbs realDonaldTrump Grammysue67 I like the sun for energy
Source: CNBC - 🏆 12. / 72 Read more »
Saudi energy minister says attacks partially halted Aramco productionSaudi Arabian energy minister Prince Abdulaziz bin Salman said on Sunday that at... See media these days they have it under controle. Ah, and now we see why SecPompeo, LindseyGrahamSC and others are so upset... their big oil donors must be angry. ... у них же и ракеты есть с ядерными боеголовками ,интересно, а зачем они им ?
Source: Reuters - 🏆 2. / 97 Read more »
Saudi energy minister says attacks partially halted Aramco productionSaudi Arabian energy minister Prince Abdulaziz bin Salman said on Sunday that at... Any news on Saudi conviction for journalist murder? They really don't or have said much. except it put a dent in production. That’s what you all deserve
Source: Reuters - 🏆 2. / 97 Read more »
Energy prices spike after Saudi oil attack, US blaming IranGlobal energy prices spike after weekend attack on key oil facilities in Saudi Arabia caused worst disruption to world supplies on record. So the murderer, SaudiCrownPrince, told his friend Donnie that prices are getting to low, we need a distraction and Donnie helps with accusing Iran/Iraq with the attack. Guess TrumpTower in Mecca is moving right along, instead of TrumpLibrary at Rikers Island put it in Mecca Of course it was Iran, who else would do it and had missiles like that? Its time for war no other way to stop Iran now Trump needs to declare War on Iran already. They will just get worse because they think no one will do anything .
Source: ABC - 🏆 471. / 51 Read more »
U.S. energy secretary says oil market robust after attack on Saudi plantsThe oil market is resilient and will react positively to the attack on Saudi Ara... Does anyone else think that this attack could have been staged to force the US to go to war And the three departments I want to cut are... wait, who am I? Same thing they said about my Grandmother after her 4TH stroke.
Source: Reuters - 🏆 2. / 97 Read more »
Wall Street set to open lower after Saudi attacks; energy stocks surgeWall Street was set to open lower on Monday as the weekend attack on Saudi Arabi... Nixon froze gas prices---let that sink in simple but powerful illustration of the consequences. you can be a billionaire also in this way, i mean loosing much money. like i always say the business have 2 faces. destroy to rebuild, or invest to improve. anyway. if you want to find out who was behind the attacks maybe look at who made really big plays in energy stocks recently
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