Home News Oil Demand On The Rise and Tracking ETFs Could See Boost

Oil Demand On The Rise and Tracking ETFs Could See Boost

As crude oil continues to rise with no clear sign of stopping energy ETFs could continue to surge with it. China has been a big part of oil demand as they have begun lifting their Covid restrictions after the spikes slowed down. With current demand the IEA expects that they will not be able to be able to supply it and will have to increase by 1.3 million barrels a day. A few ETFs that look to capitalize on oil are: the Energy Select Sector SPDR (XLE), the Vanguard Energy ETF (VDE), and the iShares U.S. Energy ETF (IYE).

ETF Newz Says:

Oil is in a good spot with a lot of demand and tracking ETFs could follow.