War Fuels Oil Shock, Energy Stocks Soar

Investors are betting heavily that this significant oil disruption will jolt the energy industry out of its prolonged stagnation, which had seen it flagging for years. While the fallout from the war has battered stocks and bonds across other sectors in recent weeks, it has substantially rewarded shareholders of American oil-and-gas companies, making the energy sector a standout performer.

This transformation means a previously struggling industry is now one of the market’s only havens. Specifically, shares in fuel-refiner Phillips 66 and major oil companies Chevron and Exxon Mobil have just logged significant gains, reflecting this dramatic shift in market dynamics.