Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF·Financial Services

Crude oil futures plunged as Iran kept the Strait of Hormuz open, easing supply fears and shifting the oil outlook bearish as traders unwind risk premium.

TD Cowen's Jason Gabelman joins 'Closing Bell Overtime' to talk the recovery process for the energy market.

Goldman Sachs said softer oil demand and easing supply disruptions have balanced out the risks in its oil price outlook, though it kept its 2026 average forecasts unchanged.

Oil is surging but this isn't just about prices at the pump. It's about a bigger macro shift.

Oil prices plummeted to their lowest level in more than a month on Friday after Iran declared the Strait of Hormuz "completely open" for the duration of a 10-day ceasefire between Israel and Lebanon.

Airline stocks rallied on Friday after oil prices eased following Iran's announcement that the Strait of Hormuz would remain open. Earlier this week, Iran's foreign minister said the Strait of Hormuz is “completely open” to commercial vessels, signalling a de-escalation in tensions that had previously raised fears of disruptions to global oil flows through the strategic waterway.
The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull and Bear 2X ETFs seek daily investment results, before fees and expenses, of 200%, or 200% of the inverse (or opposite), of the performance of the S&P Oil & Gas Exploration & Production Select Industry Index. There is no guarantee the funds will achieve their stated investment objectives.
Financial Services
Asset Management - Leveraged
2015-05-29
0.50
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