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Upstream Stocks Continued Their Winning Streak Last Week

Kurt Gallon
Upstream Stocks Continued Their Winning Streak Last Week

In the week ending September 24, upstream energy stocks continued their winning streak for the second consecutive week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, rose 2.8% last week. Overall, XOP has gained 6.4% in the past two weeks and 0.4% since the beginning of September. Last week’s gains were led by a sharp rally in gas-weighted stocks amid a rise in natural gas prices. US natural gas rose 7.6% last week and ended at $2.98 per MMBtu (million British thermal units). ...