XLE is trading 3.05% down today as crude prices retreat from recent highs after Saudi Arabia offered additional cargoes and an unexpectedly large U.S. crude-inventory build eased immediate supply concerns.

  • The Federal Reserve raised rates 25 basis points to 3.75%-4.00%.
  • Stronger August retail sales, elevated Treasury yields, and a firmer dollar are reinforcing risk-off pressure and reducing expected energy demand.
  • Profit-taking is weighing across energy stocks.