The energy sector enjoyed a broad, and in many cases sharp, rally in afternoon trading Monday, as crude oil prices rose to a 3-month high (Occidental Petroleum Corp.'s stock (OXY), which soared 15.5%, and Diamondback Energy Inc.'s stock (FANG), which shot up 10.8%. Crude oil futures climbed 1.5% to $43.05, toward the highest close since Aug. 26. Among other more-active stocks in the energy ETF, shares of Marathon Oil Corp. (MRO) hiked up 6.6%, Exxon Mobil Corp. (XOM) advabced 5.4%, Kinder Morgan Inc. (KMI) climbed 2.8% and Halliburton Co. (HAL) hiked up 9.0%. In comparison, the S&P 500 tacked on 0.4%.) on increasing hopes that a potential COVID-19 vaccine would fuel and economic recovery and spark demand for oil. The SPDR Energy Select Sector exchange-traded fund (XLE) ran up 5.8%, toward the highest close since Aug. 17, with all 25 of its equity components trading higher. The ETF was biggest gainer of the 11 SPDR sector ETFs tracking the S&P 500's 11 key sectors. The biggest gainers were
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 23, 2020 14:47 ET (19:47 GMT)
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