Three energy stocks are among the top 10 performers within the S&P 500 since the beginning of the year, representing a significant paradigm shift compared to the underperformance of the energy sector throughout 2023. A significant factor contributing to the outperformance of energy stocks since the year’s onset has been the sharp increase in oil prices. The West Texas Intermediate (WTI) light crude, tracked by the United States Oil Fund (NYSE:USO), has risen by 20% year to date. This surge can be attributed to a combination of factors including growing demand, limited OPEC+ supply, and escalating tensions in the Middle East, particularly between Israel and Iran. According to the latest forecast from the U.S. Energy Information Administration (EIA), the Brent crude oil spot price is expected to average $90 per barrel in the second quarter of 2024, which ...