Posted 3/28/2024, 10:00:41 AM
Energy Sector Outperforms in March as Oil Prices Climb, Stocks Like Diamondback, ExxonMobil, and Pioneer Natural Resources See Double-Digit Gains
- Energy stocks have led gains in March with the Energy Select Sector ETF up over 9%
- Oil prices have climbed over 13% since the start of 2023, supporting energy stocks
- Morgan Stanley upgraded the energy sector citing earnings growth and valuation
- Top performers include Diamondback Energy up 26%, ExxonMobil up 15%, and Pioneer Natural Resources up 15%
- Gains in energy stocks signal a potential broadening of the market rally beyond mega-cap tech names