Biden’s last resort to lower oil prices sees little impacts

Biden is releasing 50M barrels of crude from the Strategic Petroleum Reserve — in coordination with Britain, China, India, Japan and Korea — for the first time in a decade. What’s the big deal? In 2021, short supply and high demand led to surging oil prices — making energy the top-performing sector of the year….

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The future of 2021’s top-performing sector

The energy sector has been the top-performing S&P 500 sector in 2021 as oil prices soared 61% this year — the highest level since 2014. This sent oil-related stocks soaring — with The Energy Select Sector SPDR Fund (NYSE:XLE) up 50% this year. The future of oil: According to Reuters, the direction of oil prices…

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Here’s why high oil prices is bad for (almost) everyone

In 2021, crude oil prices are up 72% and natural gas prices are up 134% — with oil stocks and energy ETFs moving similarly. But unless you’re invested in the energy sector, you’re probably feeling the pain whether you realize it or not. What’s happening in the oil industry? While it’s good news for the…

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