After three abysmal quarters in 2020 — due to the triple whammy of an oil price war between Saudi Arabia and Russia, demand destruction as a result of the Covid-19 pandemic, and perceptions that oil is giving up its dominance to renewable energy and electric vehicles — the energy sector has dramatically picked up over the past two quarters.
The energy sector grossly outpacing the other S&P 500 sectors in Q4 2020, and the sector started off 2021 the way it ended last year. The Energy Select Sector SPDR ETF tracks an index of energy…Energy Sector Sees Blowout Quarter
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