Ongoing concerns around energy security prompted by the conflict in Ukraine are causing oil, gas and metals prices to continue their upward surge. Energy ETFs have seen an average rise of 5% this week while witnessing $360 million of outflows as investors harvest profits from their 36% gains so far in 2022. Energy ETFs have been the most bought sector of the year, with investors pumping in a total of $6.3 billion so far. The United States Natural Gas Fund (UNG) jumped by 10.4% and saw a modest $1 million of flows, the United States Brent Oil Fund (BNO) rose 10% and saw $25 million of outflows and the Invesco DB Energy Fund (DBE) was up 7.4% with $22 million on inflows over the week.
Industrial and precious Metals ETFs among this week's top performers
In metals markets, the SPDR S&P Metals and Mining ETF (XME) rose 8% and saw $288 million of outflows while the Gold Giants: iShares Gold Trust (IAU) rose 7.3% and saw $1.4 Billion of inflows and the SPDR Gold Shares (GLD) was up 5.4% with $4.2 Billion of inflows. The iShares Silver Trust (SLV) jumped 10.5% and picked up $191 million of flows and the Aberdeen Standard Physical Palladium Shares ETF (PALL) jumped 13.5% with $101 million of inflows.
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