The energy sector is the stock market’s dud so far in 2017 after a banner performance in 2016, and the rest of the year could also be rocky for investors due to the unclear path for crude oil prices.Energy outdid all other sectors in 2016, up nearly 24% thanks to a late-year rally on anticipation that impending production cuts from major oil producers would lift crude prices and after the election of Donald Trump as U.S. president spurred investor hopes for industry-friendly policies.However, energy shares have been weak after peaking in mid-December, and are the worst-performing of the Standard & Poor’s 500 index’s 11 stock sectors in 2017. Oil producers have been the poorest among energy sub-industries, due to doubts about the demand outlook and an unexpectedly high level of crude and finished product inventories.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News