Topline
Energy stocks once again outperformed the rest of the market as oil and gas prices remain elevated due to inflation; despite ongoing risks to tight global supply such as Russia’s invasion of Ukraine, some experts are now predicting that prices will decline by next year.
Key Facts
Energy prices have been surging in recent months: Demand remains high but supply has been tight ever since the West imposed sanctions on Russian oil after the country’s invasion of Ukraine in late February.
Despite their first weekly loss in over a month last Friday, oil prices jumped again on Tuesday: The price of U.S. benchmark West Texas Intermediate sits at nearly $111 per barrel, while international benchmark Brent crude trades at more than $114 per barrel.