Exxon Mobil And Chevron Among Top Energy Stock Losers Thursday: What's Going On?

The Energy Select Sector SPDR Fund XLE is trading lower by 6.91% to $76.67 during Thursday’s session, as investors stepped back from Wednesday's risk-on rally and locked in profits, even as new inflation data came in cooler than expected.

What To Know: After surging around 10% following President Donald Trump's surprise 90-day pause on additional tariffs for non-retaliating countries, XLE fell around 5.9% Thursday morning, mirroring a broader market cooldown.

XLE is a sector-focused exchange-traded fund that tracks the performance of U.S. energy companies within the S&P 500. Its top holdings include Exxon Mobil Corp XOM, Chevron Corp CVX, Schlumberger NV SLB, ConocoPhillips COP and Occidental Petroleum Corp OXY—firms highly sensitive to commodity pricing, global demand expectations and geopolitical developments.

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What Else: Despite the pullback, Thursday's macroeconomic backdrop was supportive. U.S. consumer prices unexpectedly declined in March, with headline inflation falling to 2.4% year-over-year and core inflation easing to 2.8%, both below forecasts.

The CPI even contracted 0.1% month-over-month, the lowest reading since May 2020, suggesting that tariff-related price pressures may be easing rather than accelerating.

However, energy markets faced mixed signals. A sharp 6.3% drop in gasoline prices weighed on the sector outlook, despite increased investor confidence in global trade stability following the tariff reprieve.

XLE's pullback Thursday also likely reflects a combination of profit taking and caution in a sector still tethered to volatile global dynamics, including Chinese demand, OPEC policy and currency fluctuations.

According to data from Benzinga Pro, XLE has a 52-week high of $98.97 and a 52-week low of $74.49.