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U.S. Energy Shares Soar on Rising Oil Prices and Strong Economy

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U.S. Energy Shares,Oil Prices,Strong Economy

U.S. energy shares are experiencing significant gains due to the increase in oil prices and a stronger-than-expected economy. Investors are seeking to protect their portfolios from potential inflation and believe that rising energy shares could serve as a hedge. The price of U.S. crude has risen 20% year-to-date, driven by a robust U.S. economy and concerns over the Middle East conflict.

A trader works on the trading floor at the New York Stock Exchange in New York City, U.S., April 5, 2024. REUTERS/Andrew Kelly/File PhotoNEW YORK, April 12 - U.S. energy shares are soaring as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation.year-to-date return. Its gains have accelerated in recent weeks, making it the S&P 500's best performing sector in the past month.

"If inflation is going to pop up again ... the hedge is to have some commodities exposure," said Ayako Yoshioka, senior portfolio manager at Wealth Enhancement Group.. Monthly U.S. retail sales out on Monday will offer a view into U.S. consumer behavior, on the heels of anotherEnergy stocks have risen as a U.S. equities rally has broadened beyond the growth and technology companies that led gains last year.

Analysts are also noting comparatively low valuations. The S&P 500 energy sector trades at 13 times forward 12-month earnings estimates compared to nearly 21 times for the overall S&P 500, according to LSEG Datastream.

 

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