Energy

Energy stocks lag in past month, but traders bet on return to strength

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Energy stocks have taken a recent pause, a breather after a red-hot rally this year.

The S&P 500 sector has fallen more than 4% since this time last month. West Texas Intermediate crude, meanwhile, has plummeted 16% over the same stretch — demand fears tied to the emergence of the Covid omicron variant and an unwinding of a surge in prices this year have put pressure on oil markets.

JPMorgan analysts, though, are confident energy can resume its leadership into 2022. The firm credited favorable commodity prices, healthy balance sheets and capital return plans as reasons to be optimistic and specifically highlighted Exxon Mobil, Phillips 66 and Suncor Energy as three of its favorites.

Nancy…



Source cnbc.com

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