Trang Ho for Investor’s Business Daily reports that the iShares S&P North American Natural Resources (NYSEArca: IGE), Energy Select Sector SPDR (NYSEArca: XLE) and the iShares Dow Jones US Energy (NYSEArca: IYE) have all gained on the recent news. They have all up-ticked 0.95% to 1.42% in one day. [ETF Chart of the Day: Natural Resources]
Investors can expect oil prices to slump as a surplus onslaught of the commodity will flood the market. Oil prices are predicted to fall 5.5% between 2013 and 2018. [ETFs for Lower Oil Prices]
“Although shale oil development outside North America may not be a large-scale reality during the report’s five-year time frame, the technologies responsible for the boom will increase production from mature, conventional fields – causing companies to reconsider investments in higher-risk areas,” the IEA report said.
Tisha Guerrero contributed to this article.