Markets
The Energy ETF Closed at a Record as Brent Climbed Back Above $106
The Energy Select Sector SPDR (XLE) rose 1.43% on October 12 to $66.01, its highest close on a split-adjusted basis. Brent crude gained 1.84% to $106.65, its highest close since September 15.
While chipmakers fell, oil producers had a very different Monday. The Energy Select Sector SPDR (XLE) rose 1.43% to $66.01 on October 12, just above its September 15 close of $65.93 and the highest close in the fund's history after adjusting for its 2-for-1 split in December 2025.
Crude did the lifting. Brent futures settled 1.84% higher at $106.65 a barrel, their highest close since September 15, and US crude (WTI) rose 2.06% to $93.74. Market reports pointed to fresh attacks in the Middle East and Ukraine renewing supply worries; at least nine attacks on shipping around the Strait of Hormuz had been reported in October as of last week. Brent has risen about 6.4% since October 7.
For energy investors, the record is a reminder of how far the sector has come while attention was on technology: XLE has gained 5.1% since October 2, while the semiconductor ETF has lost 6.3% over the same period. The two groups now sit at opposite ends of the market's mood — one benefiting from geopolitical risk and high oil, the other suffering from doubts about AI spending.
Records in energy stocks are worth treating with some care, because they depend so heavily on a commodity driven by events. Oil eased about 1% early on Tuesday, and a calmer week in the Gulf could take the premium out of crude as fast as it went in.