COM - U.S. crude bounces above $75 lifting energy to top sector standings

Energy (XLE +2.2%) pulls up alongside technology (XLK +2.2%) as today's top gainer among the S&P's 11 industry sectors, with U.S. crude oil overcoming an early slump to close above $75/bbl. APA Corp. (APA +7.3%) topped today's S&P leaderboard after agreeing to invest a minimum of $3.5B in Egypt's western desert while expecting to recover nearly $900M in prior investments under a new drilling contract; other noteworthy gainers include DVN +6%, FANG +4.9%, EOG +4.1%, MRO +3.5%, PXD +3.2%, COP +2.8%, OXY +2.7%. The energy sector has rallied ~8% off its low from last Monday, outpacing a 5.5% gain in the S&P 500 during that stretch. WTI crude (CL1:COM) for February delivery settled +2.4% to $75.57/bbl after rising 4.3% last week, while February Brent  (CO1:COM) ended +3.2% to $78.60/bbl following last week's 3.6% gain. Oil prices started under pressure as COVID-related travel disruptions raised fresh questions about demand for energy, but

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U.S. crude bounces above $75, lifting energy to top sector standings