XOP

S&P 500 and Nasdaq fell as crude oil rose to $98, pushing 10‑year Treasury yields above 4.8% for the first time since 2023. The move reflects traders pricing a Fed rate hike next week.

Iran‑Hormuz tensions are pushing Brent toward $100, and the article looks at how BNO, USO, XLE and XOP could react to a potential oil supply shock.

The article discusses SPDR Energy and S&P E&P ETFs, noting they are still pricing in sub‑$70 oil despite headline focus.

U.S. June oil production increased by 37 kb/d to 13,792 kb/d. The largest increase came from the GOM, 88 kb/d, while the largest decrease came from Texas, 75 kb/d.

Markets have misread refinery run cuts as a demand drop, when actual demand has risen, according to the article.

Rising oil prices and Treasury yields challenge the 60/40 portfolio, and the article lists ETFs that can help navigate higher rates, energy costs and inflation.

US strikes on Iran near the Strait of Hormuz pushed WTI crude up 5.4% to $90.38, rallying seven energy stocks while the 10‑year yield hit 4.80%.

The piece offers macro insights from Jackson Hole, a historic bond selloff, and a September outlook.