XOP, JETS, PBF: Energy Exploration ETFs Slide as Refiners Face Sharp Sell-off

Energy Exploration ETFs Slide as Refiners Face Sharp Sell-off

Apr 17, 2026 16:03 UTC

XOP, JETS, PBF, PAC

Immediate term

Energy sector ETFs faced substantial pressure during Friday's trading session, with the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) leading the decline. The fund dropped approximately 6.5% by Friday afternoon, reflecting a broader retreat from exploration and production assets. The downturn was primarily driven by steep losses in specific refining components. PBF Energy shares plummeted by roughly 13.7%, while Par Pacific Holdings saw a decline of about 12.9% on the day. These sharp movements suggest a localized sell-off within the refining space, potentially signaling shifting sentiment regarding short-term margins. In contrast to the energy slump, the aviation sector showed resilience. The U.S. Global Jets ETF (JETS) recorded significant gains during the same period, highlighting a divergence in performance between transportation and energy production. While the decline in XOP is notable, the lack of a broad market catalyst suggests these movements may be tied to company-specific headwinds or sector-rotation strategies rather than a systemic energy crisis.

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