November 06, 2023 05:00 AM
Graphic: Oil’s rising price poised to boost energy sector
Crude oil prices surged over the summer as OPEC curtailed production, followed by the outbreak in early October of the Israel-Hamas war, which sparked fears of greater military conflict throughout the region. While higher oil prices may prove challenging for overall equity performance, energy stocks appear poised to benefit if commodity prices resume their ascent.
Oil and natural gas prices
S&P Composite 1500 Energy index vs. oil prices