This Group of Stocks Is Surging Due to the Surge in Oil Prices. Should You Invest?
Refiner stocks are having a great year due to a global shortage of refining capacity.
Overview
The energy industry, broadly speaking, has benefited from the higher oil prices this year resulting from Iran's effective closure of the Strait of Hormuz.
Yet one energy subsector has significantly outperformed both the energy sector and the broader market.
Details
I'm talking about refiners. As measured by the VanEck Oil Refiners ETF (NYSEMKT: CRAK), refiner stocks are up about 24% since the start of the U.S.-Iran war. That's much better than the overall energy sector, as measured by the State Street Energy Select Sector ETF, up 9% over that period, and the S&P 500 index, up about 7.5%.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.