BKR - Oil extends gains but energy names see profit-taking

The S&P energy sector trades well behind peers but remains 11% higher for the week, as crude oil prices climb to the highest in more than eight months, after a surprise drop in U.S. crude inventories last week extended a rally driven by hopes that a COVID-19 vaccine will lift fuel demand as well as strong demand in Asia.January WTI crude (CL1:COM) +1.6% to $45.66/bbl; January Brent (CO1:COM) +1.2% to $48.43/bbl.ETFs that track energy are lower but on track for their best month on record, with the Energy Select Sector SPDR Fund ([[XLE]] -1.7%), the Fidelity MSCI ETF ([[FENY]] -1.6%) and Vanguard Energy ETF ([[VDE]] -1.8%) all up ~38% so far in November.Among oil and gas stocks surrendering yesterday's gains: [[FTI]] -7.7%, [[CVX]] -2.7%, [[BKR]] -2.5%, [[WMB]] -2.2%.Other relevant ETFs include [[USO]], [[UCO]], [[XOP]], [[GUSH]], [[OIH]], [[BGR]], [[ERX]], [[BNO]], [[SCO]], [[USL]]

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Oil extends gains but energy names see profit-taking