The Brent crude oil price was on the march again today, rising over 4.36% to $106.24. The main driver was again the Iran war and growing doubts over whether the U.S., Israel and Iran are any closer to a peace deal.
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” Oil prices jumping would suggest recent market optimism about a resolution in the Middle East is fading fast,” said Dan Coatsworth, head of markets at AJ Bell. “Stock markets fell around the world as investors expressed their frustration. A gloomy economic outlook report from the OECD didn’t help matters, flagging the impact of the Middle East crisis on inflation.”
Let’s look at two oil and gas ETFs continuing to benefit from higher oil prices. We can find them on the TipRanks Best Oil, Gas and Consumable Fuels ETF list.
MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU)
It is a dynamic financial instrument tailored for investors seeking amplified exposure to the energy sector. Specifically, this Exchange-Traded Note zeroes in on the Oil, Gas & Consumable Fuels niche, offering a unique opportunity to capitalize on the volatile movements within this critical industry. Designed for those with a robust risk appetite, OILU provides triple the daily returns (3x) of a benchmark index that tracks the performance of oil and gas exploration and production companies. This leverage allows investors to potentially maximize gains from market upswings, making it an attractive choice for active traders and sector enthusiasts who are bullish on the energy market’s prospects.
It has $73.71 million of Assets under Management and is up 135% in the year to date.
MicroSectors Energy 3X Leveraged ETNs (WTIU)
It offers investors a powerful tool to maximize their exposure to the dynamic energy sector, particularly within the Oil, Gas & Consumable Fuels niche. This exchange-traded note (ETN) is designed to deliver three times the daily performance of the Solactive MicroSectors Energy Index, making it an ideal choice for those with a bullish outlook on the energy market and a tolerance for higher volatility. WTIU is a leveraged product, amplifying both potential returns and risks, and is best suited for sophisticated investors looking to capitalize on short-term movements in the energy sector.
It has $31.22 million of Assets under Management and is up over 134% in the year to date.
You can access a whole range of ETFs via the TipRanks Compare ETFs page.