Energy stocks top S&P sector leaderboard as oil price rises

Posted By: ndeeney

Energy (NYSEARCA:XLE) is the biggest gainer among S&P sectors Wednesday, +2.5%, boosted by higher crude oil prices after a report showed refineries are raising their crude processing to the highest since August 2019, perhaps in anticipation of strong summer demand.

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U.S. WTI crude (CL1:COM) for July delivery recently traded +1.5% to $72.83/bbl and front-month August Brent crude (CO1:COM) +1.2% to $77.22/bbl.

Marathon Oil (MRO) is the group’s top performer on the S&P 500, +4.9%, followed by Halliburton (HAL) +4.3%, APA Corp. (APA) +3.9%, EQT Corp. (EQT) +3.8% and ConocoPhillips (COP) +3.2%.

ETFs: (XLE), (XOP), (VDE), (OIH), (XES), (IEZ), (USO), (BNO), (UCO), (SCO), (DBO), (USL), (DRIP), (GUSH), (USOI), (NRGU)

The gains have lifted the sector to the top of this week’s leaderboard, rising ~2.5% since last Friday vs. a roughly flat S&P, but even with the recent strength, the sector remains at the bottom of the YTD sector leaderboard with a 7% loss while the S&P 500 has jumped 11.5% this year.

More on oil and gas:

Now read: Marathon Oil: Strong Headwinds Ahead

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