After finishing 2023 in the red as the broader market soared, energy stocks have started 2024 with a sharp rally that has them beating tech indexes this year. Specifically, the closely watched Energy Select Sector exchange-traded fund, or XLE, is up more than 13% since the start of January while the Nasdaq 100 Index has gained just 8.7%. Rising oil is helping, as West Texas Inter-
mediate crude broke above $80 a barrel in mid-March for the first time since November and held there.
This story is from the April 03, 2024 edition of Financial Express Mumbai.
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This story is from the April 03, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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