XLE, USO Fall After Israel Attack on Iran

Energy ETFs are falling Monday after Israel committed a "limited" attack on Iran which spared oil producing facilities. XLE, the Energy Select Sector SPDR Fund fell nearly .90% on the news. Previous tensions in the Middle East have caused oil and energy ETFs to spike. But with direct attacks concerning investors about disruption to oil production, oil prices have fallen, dragging down energy and oil funds.

UGA, the United States Gasoline Fund LP sank 5% by midday trading on Monday. Other oil ETFs also plummeted. USO, the United States Oil Fund LP fell nearly 5.5% while BNO, the United States Brent Oil Fund LP dropped by over 5%. 

Investors also turned sour on the future path of oil prices.

GUSH, the Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares edged 2.7% lower.

The fall comes after oil and energy ETFs were among the top performers at the end of last week's trading session from the day prior.

According to the etf.com Pulse Tool, USOY, the Defiance Oil Enhanced Options Income ETF was the 4th top performing fund on Friday, followed by oil and energy ETFs.