COM - Energy sector soars in another big run as oil prices rise

Energy ([[XLE]] +4.7%) is today's best performing sector as crude oil prices extend their rally and an assumption that underinvestment in recent years will translate into supply constraints as the global economy rebounds.The S&P sector is now +25% YTD vs. a 3.5% gain for the broader S&P 500.S&P energy leaders include [[MRO]] +12.1%, [[DVN]] +6.2%, [[SLB]] +7.5%, [[HAL]] +6.9%, [[APA]] +7.6%, [[OXY]] +5.8%, [[EOG]] +6.8%, [[XOM]] +4.4%, [[CVX]] +3.7%.March WTI crude (CL1:COM) +3% to $61.04/bbl; April Brent (CO1:COM) +2.8% to $64.66/bbl.U.S. crude output is slowly returning in Texas but analysts estimate shale oil producers in the region could take at least two weeks to restart the 2M-plus bbl/day of affected output, as frozen pipes and power supply interruptions slow their recovery."With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low," ANZ Research says.U.S. E&P stocks could see an additional 50%-100% upside in a scenario of

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Energy sector soars in another big run as oil prices rise