Oil Is Hot Again, But For How Long? ...Middle East

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Oil Is Hot Again, But For How Long?
source : OILPRICE ( Middle East ) () 9
From the pariah of industries last year, energy has become a Wall Street darling once again. In the year to date, energy has gained 17 percent on the S&P 500. Thanks to a rally in oil prices and expectations of an economic recovery from the pandemic, it is the S&P 500's best-performing sector. The catastrophic events in Texas this week lent a hand to the rally as the deep freeze in the state led to a national oil production slump of 30 percent, sending WTI above $61 a barrel. By Thursday, the slump in production had reached 40 percent,…

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