The significant energy trade gains observed in the spring have now completely reversed. The two leading oil-and-gas equity funds have nullified all their gains from the rally linked to Iran. The favorite stocks in the energy sector during the spring are now experiencing substantial losses. The Energy Select Sector SPDR Fund (XLE) saw a decline to $53.84 on Thursday, lower than its starting point when the conflict initiated in late February. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which monitors drilling companies, has returned to approximately $154, reverting to its value before the spike. Both funds reached their peaks in early April during the conflict but have since relinquished their profits. Notably, the most significant declines are seen in companies heavily involved in gas and oil production following their highs on March 30. For instance, Comstock Resources Inc. (CRK), specializing in Haynesville gas extraction, experienced a drop of nearly 40%. Another impacted company is Northern Oil & Gas Inc. (NYSE). The trend showcases a transformation of the leading gainers into the most significant losers within the energy sector. For further details, visit Benzinga.com.