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ETF News & Views: Crude Oil Prices Go Down US Economy Concerns (April 17 to 21, 2023)
By Trackinsight
April 24, 2023
- Crude Oil
- Energy
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Crude oil prices took a nosedive (WTI down 5.63% for the week), snapping a four-week winning streak despite data showing U.S. weekly inventories fell more than expected last week. Investors remain concerned that a stalling U.S. economy may hit crude oil demand from the world's largest consumer of energy. As a result, it was a tough period for the S&P energy sector (down 2.54% week-over-week).
The Trackinsight energy sector saw a similar decline (2.69%), with investors pulling out $726.4 million from the $82 billion managed by 61 funds.
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The Energy Select Sector SPDR Fund (XLE) fell 2.63% for the week, while the iShares S&P 500 Energy Sector UCITS ETF (IE00B42NKQ00) shed 2.54%.
Energy & Crude Oil: Group Data
Energy & Crude Oil: Funds Specific Data
About Trackinsight
Since our founding in 2016, we have been at the forefront of the industry, delivering accessible, comprehensive, and reliable tools to support the evolving needs of investors.
Over the past decade, Trackinsight has expanded its operations across six countries, serving thousands of professional investors. We’ve consistently innovated to provide cutting-edge solutions that meet the changing demands of the ETF market.
In 2024, Kepler Cheuvreux, a leading independent European financial services firm, acquired a majority stake in Trackinsight, becoming the company's principal shareholder.
This strategic partnership solidifies Trackinsight's position as a premier provider of ETF selection and analysis tools, while strengthening Kepler Cheuvreux’s commitment to becoming a leading player in the ETF sector.
Together, we are committed to offering advanced services that empower professional investors, advisors, institutions, and issuers. This new step enables us to deliver even more comprehensive and innovative technological solutions, driving ETF investing to new heights.
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