US energy stocks face fifth month of gains as MidEast conflict strains supply

Marathon Petroleum

31/03/2026 12:23

** S&P 500 energy sector index .SPNY on track for fifth-straight month of gains as oil prices rally on supply disruptions from the Middle East

** The sector is the only one among the 11 S&P 500 sectors that is on pace to log gains this month and March would mark its longest monthly streak of gains since the period between Nov. 2020 and June 2021

** Sector also on track to mark its biggest quarterly jump of 39% on record, as of last close, and is trading close to a record high

** Shares of APA APA.O have jumped 44% this month, while Occidental OXY.N, Marathon MPC.N, Valero VLO.N and EOG Resources EOG.N have gained over 20% as of last close

** APA, Occidental, Marathon, Valero, EOG up marginally on Tuesday; Brent oil futures set for record monthly gains

** Barclays upgraded the U.S. energy sector to "neutral" from "negative" earlier this month

** Expectations of higher windfalls from potential Venezuelan operations and investments also aided the sector earlier this year

** SPNY starkly outperforms the S&P 500 .SPX on a year-do-date basis; the Wall St benchmark is down over 7%

 (Reporting by Johann M Cherian in Bengaluru)

 ((johann.mcherian@thomsonreuters.com;))