Reason: The tanker trade that ripped last week gave some back. ECO fell 7.92% on the week after Iran said it could reopen the Strait of Hormuz within seven days and a US team met Iranian representatives in New York — a real, dated reversal of the premium that had driven the tanker leg; ECO's RSI cooled from 79.7 to 59.7 and it is still +155.67% on the year. CVI gave back a smaller 2.36% and stays extended at RSI 71.6. BE is the quiet real story on the tape: +34.88% on the month, +36.7% against its 200-day, +255.63% on the year. CEG (+1.68%) and TLN (+4.43%) bounced but both remain structurally broken, -9.4% and -15% against their 200-days.

Price/RSI Table

Status reads the 200-day trend first and RSI second; Action is a trend-hold lens — an extended name is never an entry, and a name below its 200-day with a negative year is not a dip.

What Changed Since 2026-09-18

• ECO -7.92% on the week, RSI down from a parabolic 79.7 to 59.7, still +155.67% on the year and +51.2% against its 200-day. The desk's own Monday brief reported Brent settling near $100 on satellite data showing Saudi loadings rising and on fresh diplomacy hopes; Tuesday's brief reported CNBC's account of Iran saying it could reopen the Strait of Hormuz within seven days if the US eases military pressure, plus Bloomberg reporting a US team met Iranian representatives in New York. The oil fund fell 2.8% that day and 11.0% on the week, with the tanker ETF down 18.2%. ECO's own news pull (last refreshed September 15-16) names nothing dated to this specific drop — the desk's own coverage is the receipt, not ECO's file.
• CVI -2.36% on the week, still RSI 71.6 and +63.8% against its 200-day. No ticker-specific dated cause; its pull is stale since September 15-16. As a refiner rather than a tanker operator, its softer pullback is consistent with the broader oil retreat rather than the tanker-specific unwind.
• BE +1.91% week, +34.88% month, +36.7% against its 200-day, +255.63% year. No new dated cause beyond what is already on file — the S&P 500 addition (effective September 21) and the record second-quarter print reported September 18 (net income $196.3M against a year-ago loss, raised full-year guidance).
• CEG +1.68% on the week; its pull (refreshed September 19) returns the same September 17 items already on file (a Q2 beat and insider buying) — no new dated cause for this week's small bounce. Still -9.4% against its 200-day.
• TLN +4.43% on the week; its pull (refreshed September 19) returns the same September 18 item already on file — no new dated cause. Still -15% against its 200-day, the worst structural read in the group.
• GEV +2.89% week; its pull is stale since September 11 — no news pulled for this week's move.
• Roster unchanged: no entrants, no dropouts.

Sources

• Tape data (price, RSI, returns, one-year change and alpha, distance to the 200-day): pre-computed summaries as of the 2026-09-23 close — energy (Schwab).
• Prior edition (format and roster only): 2026-09-18-energy.
• Oil and Hormuz-reopening reports: 2026-09-21-market-brief, 2026-09-22-market-brief.
• News checks: latest and .../TLN/news/latest.json (pulled 2026-09-19), .../ECO/news/latest.json and .../CVI/news/latest.json (pulled 2026-09-15/16, stale for this week's move), .../BE/news/latest.json (pulled 2026-09-18), .../GEV/news/latest.json (pulled 2026-09-11, stale).