The S&P Oil & Gas Exploration & Production ETF (XOP) is gaining momentum as it has just hit a 52-week high up almost +127% from the 52-week low of $71.50 a share. XOP is focused on oil and gas exploration which have both been surging recently due to Saudi Arabia increasing the price of crude oil as well as the European Union agreement to ban 90% of Russian crude oil by the end of 2022.
XOP Hits New 52-Week High
ETF Newz Says:
XOP is invested in many volatile assets at the moment but should be on the radars of investors who are willing to take the risk.