The rally in energy prices has been wavering of late, thanks to resurging COVID-19 cases and the resultant lockdowns, mainly in Europe, which could soon spread to the other parts of the world. Demand worries led to the oil price slump for four weeks in a row last week, for first time since Mar 20.Austria entered full lockdown from this week. This triggered the worries about another COVID-19 wave. Plus, the United States reported the largest supply build in three weeks. Notably, oil prices had made a comeback this year on widespread vaccination, the influx of more antiviral therapies and the resultant economic reopening. WTI Crude ETF United States Oil Fund, LP USO has advanced 69.3% this year, but has dropped more than 1.6% past week and 3.7% past month.This puts spotlight on the likely winners and losers. Winners include iShares Transportation Average ETF IYT, U.S. Global Jets ETF JETS, SPDR S&P Retail ETF XRT and VanEck Vectors Gold Miners ETF GDX while the losers include Energy Select Sector SPDR Fund XLE, SPDR S&P Bank ETF KBE and VanEck Vectors Steel ETF SLX.GainersTransportation – iShares Transportation Average ETF IYTThe transportation sector performs better in a falling crude scenario. This is especially true as energy costs form a major portion of the overall costs of this sector.Retail – SPDR S&P Retail ETF XRTLower energy prices are good news for retailers as consumers can have fatter wallets from energy savings and more money for discretionary spending ahead of the holiday season. This would be a much-needed relief for consumers after a long stay-at-home period.Gold Miners– VanEck Vectors Gold Miners ETF GDXLow oil prices are a plus for miners. Mining companies’ 50% production costs are closely linked to energy prices. Cheap oil should work wonders for gold miners’ operating margins. In any case, gold will be in high demand due to its safe-haven status amid the resurgence of coronavirus.LosersOil Explorer – Energy Select Sector SPDR Fund XLEThis is the most obvious choice. If oil price is staging a downtrend on demand issues, oil exploration and production stocks are sure to lose as these companies will be hit hard on the selling prices of the commodity they are pumping up.Financials – SPDR S&P Bank ETF KBEBig banks normally raise concerns about severe economic downturns and worsening credit quality. With oil starts suffering all over again, there will likely be a rise in delinquency rates from energy companies. Though we do not expect such grave situations will be seen in the near term.Steel – VanEck Vectors Steel ETF SLXSteel producers are likely to get hurt if oil prices continue to crater. The industry supplies materials to build and expand oil drilling operations. In the face of continued capex cuts by drillers, steel companies may bear the brunt. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Energy Select Sector SPDR ETF (XLE): ETF Research Reports United States Oil ETF (USO): ETF Research Reports iShares U.S. Transportation ETF (IYT): ETF Research Reports SPDR S&P Retail ETF (XRT): ETF Research Reports VanEck Steel ETF (SLX): ETF Research Reports SPDR S&P Bank ETF (KBE): ETF Research Reports VanEck Gold Miners ETF (GDX): ETF Research Reports U.S. Global Jets ETF (JETS): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research