COM - Brent oil hits $60 for first time in a year; energy tops sector leaderboard

The S&P energy sector ([[XLE]] +3.1%) sprints to the top of today's standings as Brent crude oil (CO1:COM) tops $60/bbl for the first time in more than a year, helped by supply cuts among key producers and hopes for further U.S. economic stimulus measures that can lift demand.April Brent +1.6% to $60.33/bbl; March WTI (CL1:COM) +1.8% to $57.90/bbl.The oil and gas sector already has jumped ~11.5% in February to extend its Q1 gain to 15.5%, which places it well ahead of the 10 remaining S&P groups.Occidental Petroleum ([[OXY]] +10.1%) jumps to the top of this morning's S&P 500 winners; other gainers include [[MRO]] +8.2%, [[APA]] +7.2%, [[SLB]] +4%, [[XOM]] +3.9%, [[HAL]] +3.4%, [[COP]] +3.3%.Several factors are feeding into the buoyant prices, especially the level of financial market enthusiasm over the rollout of COVID-19 vaccines, says Cailin Birch at The Economist Intelligence Unit."Support seems robust and the narrative sees the oil market

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Brent oil hits $60 for first time in a year; energy tops sector leaderboard