WS #17056
Energy markets are reversing sharply, with Brent crude preparing for its worst weekly performance since 2020. The selloff is driven by a perceived de-escalation of Middle East hostilities following the US midterm elections, which removed the immediate threat of broader regional conflict. This shift is forcing a rapid unwinding of the energy long trade, with the XLE ETF suffering its third-worst week since March 2020.
Energy Sector Selloff
Energy markets are reversing sharply, with Brent crude preparing for its worst weekly performance since 2020. The selloff is driven by a perceived de-escalation of Middle East hostilities following the US midterm elections, which removed the immediate threat of broader regional conflict. This shift is forcing a rapid unwinding of the energy long trade, with the XLE ETF suffering its third-worst week since March 2020.