Energy sector traders can also take a look at other broad, large-cap options, including the Vanguard Energy ETF (NYSEArca: VDE) and the iShares U.S. Energy ETF (NYSEArca: IYE). Over the past three months, VDE has declined 8.3% and IYE fell 8.0%.
Nevertheless, the energy sector’s fortunes are inevitably tied to the oil market. West Texas Intermediate crude oil futures were down 2.1% to $48.9 per barrel Wednesday while Brent crude oil futures were down 3.3% to $54.6 per barrel. Oil is now trading at its lowest in a week after the U.S. Energy Information Administration stated that U.S. commercial crude oil inventories rose to 417.93 million barrels, their highest since records began in 1982, FXEmpire reports.
Energy Select Sector SPDR
For more information on the oil market, visit our oil category.