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Upstream Stocks Saw Massive Selling Last Week

Kurt Gallon
Updated
Upstream Stocks Saw Massive Selling Last Week

Upstream energy stocks saw massive selling last week amid a sharp fall in natural gas prices and crude oil weakness. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, plunged 5.6% last week. At the same time, the Energy Select Sector SPDR ETF (XLE) saw a 2.2% decline. ConocoPhillips (COP), Occidental Petroleum (OXY), EOG Resources (EOG), and Anadarko Petroleum (APC), the top upstream stocks by market capitalization, fell 4.4%, 4.0%, 3.2%, and 1.3%, respectively.

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