COM - Brent oil tops $50 for first time since March panic lifting energy names

Brent crude (CO1:COM) exceeds $50/bbl for the first time in nine months, as hopes of a faster demand recovery after the release of COVID-19 vaccines outweighs a huge rise in U.S. crude inventories.February Brent +4.4% to $51.01/bbl; January WTI (CL1:COM) +4.7% to $47.65/bbl.Energy ([[XLE]] +4%) easily leads the S&P sector standings, and today's top five gainers in the S&P 500 are all oil and gas producers: [[APA]] +11.9%, [[OXY]] +9.9%, [[FANG]] +7.2%, [[DVN]] +5.8%, [[HES]] +5.5%."The crude oil market is looking beyond the numbers," says market analyst Phil Flynn, referring to the massive 15.2M-barrel build in U.S. crude inventories. "The market held key support and is now focusing on vaccine distribution that could lead to a spike in demand that should drive global supply back below normal levels next year.""It seems that cheap money, good sentiment on the stock market and, hopes that demand will soon normalize thanks to corona

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Brent oil tops $50 for first time since March panic, lifting energy names