ETFs within the energy and natural resource sectors have been among the top year-to-date performers, according to Lipper Data. A couple examples include the Vanguard Energy (VDE), which is up 29.6% year-to-date, and the Energy Select Sector SPDR (XLE), which is up 30.9% year-to-date.
Oil prices affect the performance of these ETFs, and some analysts think the $80 per barrel price of oil is probably highest it will go, reports Jesse Emspak for Investor’s Business Daily. Oil futures are priced lower than the current price per barrel. That
shows both buyers and sellers expect the price to drop, which is
another indicator of a price peak. If oil prices really have hit their highest point, what will this mean for energy-related ETFs?
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.