BKR - Oil and gas stocks lead the way as crude prices recoup losses

Energy (XLE +1.7%) is the only S&P sector posting a gain in Wednesday's trading, rebounding from yesterday's downturn with support from a bounce in oil prices. March WTI crude (CL1:COM) +2.3% to $94.24/bbl, after closing Tuesday with a 3.6% drop, while April Brent (CO1:COM) +2.2% to $95.37/bbl, after falling 3.3% as Russia pulled back some of its troops near Ukraine. The oil and gas sector is now up 23.5% YTD compared with a 6.9% loss in the broader S&P 500. Devon Energy (DVN +7.7%) is the group's best performer, surging to its best level since July 2015 before narrowing its gain, after Q4 results beat expectations and the company raised its dividend and expanded its stock buyback program. Schlumberger (SLB +4.8%) rallies to its best level since May 2019, Halliburton (HAL +3.9%) hits its highest mark since November 2018, and Baker Hughes (BKR +3.3%) rises to its strongest price since

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Oil and gas stocks lead the way as crude prices recoup losses