Soaring energy demand and production cuts could push oil prices up in the upcoming months. This could be beneficial for the energy sector. Therefore, investors can check out ETFs Energy Select Sector SPDR ETF (XLE) and Fidelity MSCI Energy Index ETF (FENY) this week to diversify their portfolios.
Several macroeconomic headwinds hampered the performance of most of the sectors in the economy last year. However, the energy sector fared comparatively well and is poised to maintain momentum in the upcoming months.
