SPDR S&P Oil & Gas Exploration & Production ETF (XOP) News Today

SPDR S&P Oil & Gas Exploration & Production ETF (XOP) moved lower today, pressured by weaker oil prices amid demand concerns and a surge in bearish sentiment, despite some upside support from supply-risk considerations and strong earnings among major producers.

• Positive Sentiment: Supply concerns escalated after U.S. threats of further sanctions and tariffs on Russian oil, underpinning crude prices and benefiting E&P names. Crude Oil Weekly Price Outlook – Crude Oil Shoots Higher for The Week
• Positive Sentiment: Exxon Mobil’s Q2 earnings topped estimates at $1.64/share, highlighting strong production growth that could bolster broader E&P performance. Exxon earnings beat estimates
• Neutral Sentiment: Persistent U.S. trade-tariff jitters and mixed forecasts on where oil finds support continue to introduce volatility, with neither clear bullish nor bearish conviction. Natural Gas and Oil Forecast: Tariff Tensions Stir Volatility
• Neutral Sentiment: Technical analysts note a tug-of-war between bullish channel targets and near-term resistance, resulting in choppy trading patterns. Crude Oil Price Outlook – Crude Continues to Chop
• Negative Sentiment: Oil prices plunged roughly 3% on renewed demand worries ahead of U.S. Nonfarm Payrolls, dragging energy stocks lower. Oil Dives 3% Amid Demand Concerns
• Negative Sentiment: Short interest in XOP surged over 223,000% in July, signaling increased bearish bets that could amplify downside if positions are unwound.
• Negative Sentiment: Chevron’s Q2 profit fell 43% year-on-year, highlighting the impact of lower crude prices and weighing on sector sentiment. Chevron profit hit by low crude oil prices and loss
• Negative Sentiment: Kuwait Petroleum’s annual profit slipped 5.8% amid softer crude prices, reflecting broader margin pressures in the industry. Kuwait Petroleum annual profit slips