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Market Extra: A popular energy fund is on the verge of its longest win streak ever, as oil rockets up

The U.S. oil benchmark hit a 3 ½-year high around $72 Thursday, helping to put a popular fund that tracks oil-related companies on pace for its longest period of uninterrupted gains ever.

The Energy Select Sector SPDR ETF XLE, +1.51% rose 1.5% on Thursday, notching its 10th straight gain—its longest winning streak since an equal stretch ended July 5, 2006. Moreover, if it books one more positive session, it would mark the best winning run for the XLE on record, according to data from FactSet and WSJ Market Data Group.

Read:Here’s why U.S. oil is trading at its biggest discount to the global crude benchmark since 2015

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