The XLE stock price uptick coincided with the EIA reporting tighter U.S. petroleum supplies. Historical data indicate such trends often sustain energy ETF rallies for several weeks. PayPal Could Still Be 20% Too Cheap - Use Options to Play PYPL Easing measures to help the economy will likely create new demand for oil, as manufacturing activity could suddenly spike from its multi-year contraction as measured by the manufacturing PMI index today. The second aspect will come from inflation itself, as a weaker dollar will have a directly bullish impact on the price of oil. Energy analysts note that XLE stock price performance remains closely tied to upstream earnings. Forecasts for crude pricing above $82 per barrel through Q3 are likely to strengthen ETF valuations.