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Does A Fall In SPDR Energy ETF Indicate Correction In Crude? | ET Now
Автор: ET Now
Загружено: 2022-06-16
Просмотров: 151
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The SPDR Energy ETF index tracks the performance of selected US energy companies like Exxon and Chevron. In past, we have always seen a strong correlation between the index and Brent Crude prices. Whenever the index has fallen, crude prices have corrected and vice versa.
Recently, the index has fallen nearly 10% from its high. However, Brent Crude – the Asian benchmark for oil – continues to trade at elevated levels of $120 per barrel levels. So does a fall in SPDR Energy ETF indicate a potential upcoming correction in crude?
Watch the video.
#CrudeOil #ETNow #SPDREnergy
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