Best Oil Stock ETFs as Oil Prices Remain High – 03/10/26

The oil price dipped today on hopes that the Iranian war could be in its last stages. Speaking last night President Trump said the U.S. and Israeli attack on Iran was ‘very complete’ and the war would come to an end ‘very soon.’

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Analysts pondered that the surging price of oil during the conflict, as Iran attacked the Gulf states and closed the crucial Straits of Hormuz, had Trump over a barrel given the potential damage to the global economy.

Oil prices, which had raced to $120 a barrel earlier this week, dropped back to around $93 today.

Trump added that he may also waive sanctions to increase supply and reduce prices. He didn’t say which countries.

However, oil is still higher than it was at the beginning of the war and with so much volatility around they are likely to stay elevated for some time.

Let’s take a look at two oil ETFs from our Best Oil, Gas and Consumable Fuels ETF list, which are likely to keep benefiting.

**ProShares UltraShort Oil & Gas DUG +1.24% ▲ **

Categorized under the energy sector, this ETF specifically targets the oil, gas, and consumable fuels niche, providing a powerful tool for those looking to hedge against or profit from declines in this volatile industry. By employing a leveraged strategy, DUG seeks to deliver twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index, making it an ideal choice for sophisticated investors aiming to navigate market downturns or enhance their portfolio’s exposure to energy sector dynamics. With its focus on shorting the oil and gas market, this ETF not only serves as a potential hedge against rising energy costs but also offers the possibility of significant returns during periods of negative sentiment or declining prices in the oil and gas markets.

It has $10.43 million of Assets under Management.

DUG is up nearly 4% over the last five days.

**SPDR S&P Oil & Gas Exploration & Production ETF XOP -1.54% ▼ **

This ETF tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, offering investors access to a diverse array of companies primarily involved in the exploration, extraction, and production of oil and gas resources. XOP is tailored for investors looking to capitalize on the growth potential and market movements within the energy sector, specifically targeting companies that are at the forefront of fuel discovery and production. As energy demand continues to fluctuate with global economic shifts, geopolitical developments, and technological advancements, XOP provides a strategic avenue for investors to align their portfolios with the evolving landscape of the energy industry.

It has 52 holdings including Venture Global and Texas Pacific, and $2.94 billion of Assets under Management.

The XOP is up nearly 20% over the last three months.

You can access a whole range of ETFs via the TipRanks Compare ETFs page.

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