Commodities
Energy Sector Roars Ahead as Oil Prices Soar to Near $100 a Barrel
The energy sector outperformed the broader market in Q3, with a gain of nearly 16% compared to a 2% rise in the S&P 500.
This performance was driven by rising oil prices, which approached $100 a barrel due to expanding conflict in the Middle East and squeezed global oil supplies.
Crude oil logged quarterly gains of nearly 32%, nearing its highs for the year.
The sector's top performer was Marathon Petroleum, with a gain of almost 48% in Q3, followed by Valero Energy with a 45% increase.