New York CNN —Energy stocks are making a comeback after being left for dead earlier this year.
Energy stocks faltered in the beginning of the year, defying investors’ expectations for last year’s boom to accelerate on a lack of global supply.
That drop in energy stocks came despite OPEC+ producers, the cartel of oil producing countries plus Russia, announcing several output cuts in a bid to bump up crude prices.
US WTI crude oil prices have gained 22% since June 11, while global benchmark Brent is up by 19%.
Jobs report will likely be strongMarkets and economists are expecting another solid jobs report on Friday, reports my colleague Alicia Wallace.
Persons:
That’s, what’s, ”, Rebecca Babin, Chevron, Derek Amey, Jobs, Alicia Wallace, Daniel Zhao, Refinitiv, Read, Here’s what’s, Danielle Wiener, Bronner, We’ve, ” Read
Organizations:
CNN Business, Bell, New York CNN — Energy, Energy, OPEC, Brent, Federal Reserve, CIBC Private Wealth, titans, Shell, Reuters, Glassdoor, USA Rice Federation
Locations:
New York, Russia, Saudi Arabia, China