Oil prices have been going through tough times. After logging the biggest monthly loss since 2021, oil prices tumbled below $60 per barrel for the first time since February 2021. The benchmark Brent crude dropped to $58.50 per barrel in early trading today while West Texas Intermediate (WTI) slipped to $55.53.
While a slump in prices is hurting oil exporting and production companies, it has been a blessing for a few zones, including airlines, retail, consumer discretionary, oil importers and refiners. We have highlighted some ETFs that are expected to benefit from lower oil prices.
This post originally appeared at Zacks.