This oil shock is so big it is fueling a turnaround in energy stocks
Investors are betting big that the largest oil disruption in history might jolt the energy industry out of a yearslong slumber. The fallout from the war with Iran has rocketed oil prices above $100 a barrel and battered stocks and bonds in recent weeks, but it has also rewarded shareholders of America’s oil-and-gas companies—transforming a flagging industry into one of the market’s only havens. Over the past month, only one grouping within the S&P 500 has traded in the green, and it is energy. Shares in fuel-refiner Phillips 66 and major oil companies Chevron and Exxon Mobil just logged their…
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