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Nov. 25, 2020, 11:30 a.m. EST

Energy ETFs aim for best month on record as crude prices recover

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By Andrea Riquier

Exchange-traded funds that track the energy sector were lower midday Wednesday, but were on track for their best month on record. The Energy Select Sector SPDR Fund /zigman2/quotes/206420077/composite XLE -3.89% fell 1.5%, but has advanced 38.2% so far in November, its strongest monthly gain since 1998, when it was launched. The Fidelity MSCI Energy Index ETF /zigman2/quotes/202486535/composite FENY -3.83% was down 1.4% Wednesday, and has gained 37.9% in the month to date, about the same as the Vanguard Energy ETF /zigman2/quotes/202541791/composite VDE -3.84% . The price of oil has gained as investors grow more confident in an economic recovery thanks to COVID-19 vaccines. On Wednesday, West Texas Intermediate crude for January delivery /zigman2/quotes/211629951/delayed CL.1 -0.61% gained more than 1% at midday, to $45.35 a barrel on the New York Mercantile Exchange.

/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 42.75
-1.73 -3.89%
Volume: 47.75M
Jan. 15, 2021 8:00p
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/zigman2/quotes/202486535/composite
US : U.S.: NYSE Arca
$ 11.55
-0.46 -3.83%
Volume: 924,453
Jan. 15, 2021 8:00p
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/zigman2/quotes/202541791/composite
US : U.S.: NYSE Arca
$ 59.04
-2.36 -3.84%
Volume: 1.59M
Jan. 15, 2021 8:00p
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/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 52.04
-0.32 -0.61%
Volume: 149,492
Jan. 15, 2021 5:00p
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