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SPDR Oil and Gas Exploration ETF inches higher

FXStreet (Mumbai) - The SPDR S&P Oil and Gas Exploration ETF is inching higher after having recovered from the Feb 2012 lows of USD 52.15 hit last week.

The ETF is trading 2.85% higher at USD 60.23 levels. Moreover, the energy sector ETF came under fire over the last couple of months as the Crude oil prices fell by more than 20%. The sector ETF was probably oversold and was due for a technical correction.

ETF tracks 91 stocks with total asset of more than $1.3 billion. Moreover, the ETF has recovered more than 15% from the low of USD 52.15.

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