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What Drove US E&P Stocks Last Week?

Kurt Gallon
Updated
What Drove US E&P Stocks Last Week?

Last week, US E&P (exploration & production) stocks ended with mild gains. The positive impact of gains in crude oil prices was partially offset by sluggishness in natural gas prices. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 E&P companies, rose 0.7% last week. At the same time, the Energy Select Sector SPDR ETF (XLE) fell 0.9%. Among the top upstream stocks by market capitalization, Anadarko Petroleum (APC), ConocoPhillips (COP), Occidental Petroleum (OXY), and EOG Resources (EOG) rose 1.2%, 1.1%, 0.7%, and 0.7%, respectively.

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