XOP - Crude oil pulls back but energy stocks stay on top of S&P leaderboard

The S&P energy sector (XLE +1.0%) maintains modest gains while the other 10 industry groups continue to show sharp losses, even after crude oil prices pulled back from a strong early move that briefly lifted Brent crude above $80/bbl. WTI November crude (CL1:COM) -0.5% at $75.03/bbl and November Brent (CO1:COM) -0.8% at $78.90/bbl, posed to snap five-session winning streaks for both. ETFs: USO, XOP, VDE, OIH, UNG Three of today's top five gainers on the S&P 500 are oil and gas names: SLB +3.6%, HAL +2.3%, COP +2%. While it is now the norm to be bullish on oil, "we do believe our view that crude fundamentals will stay healthy for many years to come despite the threats of electric vehicles, OPEC+/Iranian supply, COVID uncertainty and the historical lack of U.S. producer discipline is far from the prevailing view," Goldman Sachs' Neil Mehta writes. Meanwhile, natural gas prices (NG!:COM) continue to

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Crude oil pulls back but energy stocks stay on top of S&P leaderboard