Published on 22 Mar 2024 on Insider Monkey via Yahoo Finance
10 Best Performing Energy Stocks Right Now
In this piece, we will take a look at the ten best performing energy stocks right now. If you want to skip our coverage of the global energy industry and how the trends over the years are making the news now, then you can skip ahead to the 5 Best Performing Energy Stocks Right Now.
While the start of 2024 has seen artificial intelligence remain at the forefront of investor attention, the energy sector has also made several important headlines. Additionally, due to its close links with the economy, the global energy industry has also been quite regularly covered by the press and made money for investors over the past couple of years.
Starting from the outbreak of the coronavirus pandemic, virus induced global travel and hospitality restrictions meant that the demand for petroleum products would slip. Naturally, this didn't bode well for energy stocks, with big ticket names such as Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) dropped on the markets. Between January and November 2020, Exxon's shares dropped by 46% in the market, while Chevron's stock was down by 25.77%. For these sizeable entities, whose management and investors rely on their heft acting somewhat as an insurance policy against broader stock market downturns, the tail end of 2022 made it evident that even the biggest can fall under the right circumstances.