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Upstream Stocks Might Continue to Build on Last Week’s Gains

Kurt Gallon
Upstream Stocks Might Continue to Build on Last Week’s Gains

In the week ending September 28, upstream energy stocks continued their winning streak for the third consecutive week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, rose 1.9% last week. Overall, XOP gained 2.2% last month. Last week, XOP’s gains were due to the rise in commodity prices and the narrowing of the WTI spreads.