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home / news releases / COM - ERX: Turbocharging The XLE

COM - ERX: Turbocharging The XLE

Direxion Auspice Broad Commodity Strategy

2024-04-08 16:46:08 ET

Summary

  • Crude oil prices have posted double-digit percentage gains in 2024 after falling in 2023.
  • The Energy Select Sector SPDR® Fund ETF, XLE, has experienced a double-digit percentage gain in 2024, indicating a positive outlook for the sector.
  • The Direxion Daily Energy Bull 2X Shares ETF, ERX, offers the opportunity to amplify the upside price action in XLE through leverage, but comes with potential downside-time decay.

Nearby NYMEX crude oil prices (CL1:COM) closed 2023 at $71.65 per barrel, with the Brent benchmark on the Intercontinental Exchange at $77.08 per barrel. At near $86.50 on the active month NYMEX contract and over $90.50 on the Brent contract in early April 2024, the crude oil benchmarks posted double-digit percentage gains in 2024 after falling by over 10% in 2023....

For further details see:

ERX: Turbocharging The XLE
Stock Information
Company Name: Direxion Auspice Broad Commodity Strategy
Stock Symbol: COM
Market: NYSE
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