The recent energy market shift has seen a complete reversal of fortunes after the successful streak this spring. The two leading oil-and-gas equity funds have wiped out all the gains from the Iran war rally. The Energy Select Sector SPDR Fund (XLE) dropped to $53.84 on Thursday, dipping below its level at the onset of the conflict in February. Similarly, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned to around $154, reverting to its pre-surge position. Both funds hit their highest points in early April but have now surrendered their previous profits. The most significant losses are visible in companies heavily involved in gas and oil extraction. For instance, Comstock Resources Inc. (CRK), specializing in Haynesville gas drilling, has plummeted by almost 40%. Northern Oil & Gas Inc. (NOG) has followed a similar trend. Overall, the energy sector's top performers earlier this year are now experiencing substantial declines, turning from winners to the biggest losers amidst market fluctuations.