Shell, BP, Ithaca and Harbour Energy boosted as oil prices surge over $100

Brent crude surged to $107 per barrel, rising from $92 at the end of last week (and $84 earlier last week) after escalation of the war in the Middle East. The move left oil companies as the only stocks in the green, a sector-moving ~16% jump from $92 to $107 that increases energy-sector outperformance and raises near-term market volatility and inflationary risk.

Analysis

Brent crude surged to $107 per barrel, rising from $92 at the end of last week (and $84 earlier last week) after escalation of the war in the Middle East. The move left oil companies as the only stocks in the green, a sector-moving ~16% jump from $92 to $107 that increases energy-sector outperformance and raises near-term market volatility and inflationary risk.