COM - Oil and gas names extend gains as Brent crude nears $60

Energy ([[XLE]] +1.5%) shows early sector leadership, supported by the highest oil prices in a year amid economic revival hopes and supply curbs by OPEC and its allies.The sector has extended this week's gain to 8.7% and is now up 12.6% YTD, tops among the 11 S&P industry groups.April Brent crude (CO1:COM) +1.2% at $59.56/bbl after hitting its highest since February last year at $59.79, while March WTI (CL1:COM) +1.4% at $57.02/bbl after reaching $57.28, its highest since Jan. 22 last year.Among today's stock movers: [[XOM]] +3.4%, [[MRO]] +3.4%, [[RDS.A]] +2.6%, [[SLB]] +2.4%, [[OXY]] +2.2%, [[HAL]] +2.2%, [[PXD]] +2.2%."OPEC+ discipline has been a real positive," as the group continues to keep a lid on production, says Michael McCarthy, chief market strategist at CMC Markets.The latest weekly U.S. supply report showed a drop in crude inventories to their lowest since March, suggesting that OPEC's cuts are having the desired effect.Saudi Aramco

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Oil and gas names extend gains as Brent crude nears $60