Oil stocks have continued to show a clear disconnect from the commodity they track, with oil equities staging a powerful rally even as oil prices have fallen since the OPEC meeting. Over the past 30 days, the energy sector’s leading benchmark, the Energy Select Sector SPDR Fund (NYSEARCA: XLE), has climbed 24.6% while average crude spot prices have declined 8% over the timeframe. XLE now boasts a 52.9% return in the year-to-date compared to a 20.0% decline by the S&P 500. There’s a method to the madness, though. We are still in…
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