Oil Funds Could See Record Gains In December

The battered oil and gas sector ran riot on Monday, with the sector’s popular benchmark Energy Select Sector Fund (XLE) jumping nearly 15%.  The catalyst was news that Pfizer and BioNTech may have hit the jackpot with a Covid-19 vaccine--a development that has injected a heavy dose of optimism into global financial markets.  The pharmaceutical giants announced they have developed BNT162, an mRNA vaccine that has been more than 90% effective in preventing Covid-19 infection in nearly 44,000 test subjects. Now, ETFs are reaping the…