Energy Is the Odd One Out: XLE Lags the Rally Even as Russian Refining Supply Tightens
Energy sat out Monday's rally at the exact moment its own setup should have helped it. The energy sector ETF XLE fell 2.30% to $62.46 while the S&P 500 ETF (SPY) rose 1.55% to $773.50 and the Nasdaq-100 proxy QQQ climbed 2.88% to $741.47. The lag stands out because the supply story was live: the commodity desk's September 22 refinery-campaign brief documents Ukrainian strikes on Russian refining and Russian export bans that are keeping product markets tight. For the complex's next leg, see our crude oil coverage .
Key Takeaways XLE, the energy sector ETF, fell 2.30% to $62.46 even as SPY rose 1.55% to $773.50 and QQQ climbed 2.88% to $741.47. Energy lagged while the Russian refining supply-di…
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