Energy Sector Sees Blowout Quarter

After three abysmal quarters in 2020 — due to the triple whammy of an oil price war between Saudi Arabia and Russia, demand destruction as a result of the Covid-19 pandemic, and perceptions that oil is giving up its dominance to renewable energy and electric vehicles — the energy sector has dramatically picked up over the past two quarters. The energy sector grossly outpacing the other S&P 500 sectors in Q4 2020, and the sector started off 2021 the way it ended last year. The Energy Select Sector SPDR ETF tracks an index of energy…