Recession Fears Halt The Rally In U.S. Oil Stocks

Despite another strong set of quarterly profits reported over the past two weeks, the oil and gas sector has underperformed the broader market this year as commodity prices have dropped and fears of a recession have intensified.   The energy sector in the S&P 500 outperformed the index in the previous two years as oil prices and demand rose in 2021 after the reopening of economies from the Covid lockdowns and after oil and gas prices surged in 2022 following the Russian invasion of Ukraine and the heightened concerns about energy security.…