With energy showing signs of life after Trump's victory, BTIG highlights ETFs

Oil (CL1:COM) prices and the broader energy sector have been among the worst-performing areas of the economy since the start of 2024. However, with Donald Trump's recent presidential victory, there are signs of a potential shift. BTIG has highlighted an uptick in the sector, suggesting that a potential rebound may be on the horizon.

“Over the last year, Energy is the second worst performing sector (behind Healthcare), up just 12.72%. Since election day, however it is the third-best sector, and over the last eight days it's the best sector. Anecdotally we sense very little interest in the sector, with crude oil's -3% YTD performance not helping sentiment,” BTIG’s Jonathan Krinsky stated.

As it relates to specific energy related exchange-traded funds, BTIG went on to add that the Energy Select Sector SPDR ETF (NYSEARCA:XLE) was approaching a 52-week trading high despite the weakness seen in oil prices. Also, the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) was back above its 20-day moving average.

As of Thursday, crude trades near $70.30/bbl and is lower by 1.1% in November and also hovers below its 50-, 100-, and 200-day moving averages.

For further insight in the energy sector, investors can look towards both energy related ETFs and also oil and gas backed ETFs.

Energy ETFs: (XLE), (AMLP), (VDE), (XOP), (OIH), and (IXC).

Oil ETFs: (USO), (UCO), (DBO), (OILK), and (USL).