Although oil futures are trading slightly lower Monday, Sunni militants took control of the only legal border crossing between Iraq and Jordan and “at least 71 prisoners and five police officers were killed Monday when militants attacked an Iraqi police convoy transferring inmates from one prison to another,” according to CNN.
The United States Oil Fund (NYSEArca: USO) and the United States Brent Oil Fund (NYSEArca: BNO) each currently reside about 1% below their 52-week highs.
Energy Select Sector SPDR
ETF Trends editorial team contributed to this post.