Now, last year, things were looking rather glum for the oil chaps. A dreadful glut, you see – more oil sloshing about than you could shake a stick at. A whopping 1.4 billion barrels just bobbing on the water, waiting for someone to buy it. That’s like having a bathtub overflowing with the stuff, only…much, much bigger. From 2016 to 2024, December usually had a sensible amount, but last year? A positively staggering 24% more!
The price of the black goo – West Texas Intermediate, they call it, a rather pompous name – had sunk to a measly $57 a barrel. And Brent, the fancy European stuff, wasn’t much better at $60. Investors, those fidgety creatures, were dumping energy stocks like hot potatoes, searching for something…shinier.
But oh, surprise, surprise! As of mid-February 2026, the energy sector is leading the charge. Quite a turn-up for the books, wouldn’t you say? The State Street Energy Select Sector SPDR ETF (XLE +0.69%) is up a whopping 23% year-to-date, leaving every other sector in the dust. The broad S&P 500? A mere blink at less than 2%.
Several of the Big Oil blokes are soaring. Here are a few of the particularly plump pigeons:
| Stock | 2026 year-to-date return (as of Feb. 11) |
|---|---|
| ExxonMobil (XOM 1.03%) | 29.3% |
| Chevron (CVX +0.66%) | 21.9% |
| ConocoPhillips (COP +0.58%) | 18.8% |
U.S. Foreign Policy & the Sticky Business of Oil
Now, what’s driving these stocks sky-high? It’s a bit of a mystery, really. But there are whispers. One is that the rather forceful U.S. foreign policy is behind it all. Since they nabbed President Maduro of Venezuela (a bit of a scoundrel, by all accounts) on January 3rd, some folks think the Big Oil chaps will now have access to Venezuela’s oil reserves. A staggering 19.4 billion barrels, no less! A fifth of the world’s supply, you see. Quite a prize.
The Trump administration might just hand over the keys to these Venezuelan oilfields. And both Chevron and Exxon have enormous refineries on the Gulf Coast, perfectly capable of handling the rather…pungent Venezuelan crude. Chevron already has a foothold there, naturally.
Furthermore, the White House has been rattling sabers at Iran. They’ve positioned an aircraft carrier near their coast, and may send another. Any conflict there would undoubtedly send oil prices soaring. Iran sits at a crucial choke point, you see, the Strait of Hormuz. A very sensitive spot.
Some say investors are tiring of the artificial intelligence craze and are returning to energy stocks as a safe bet. But will this rally last? Frankly, I’m a bit suspicious. It will take years, and a mountain of money, to get Venezuela’s oil sector back on its feet. And any conflict with Iran would likely be short-lived. A cautious approach, my friends, is the sensible one. I’d advise against piling in all at once.
These oil barons, they’re masters of extracting wealth, not just oil. And they’ll happily squeeze every last drop from a situation, given half a chance. Keep a watchful eye, and remember, a little prudence goes a long way.
Read More
- 2025 Crypto Wallets: Secure, Smart, and Surprisingly Simple!
- 20 Films Where the Opening Credits Play Over a Single Continuous Shot
- Top gainers and losers
- Here Are the Best TV Shows to Stream this Weekend on Paramount+, Including ‘48 Hours’
- ‘The Substance’ Is HBO Max’s Most-Watched Movie of the Week: Here Are the Remaining Top 10 Movies
- Brent Oil Forecast
- 50 Serial Killer Movies That Will Keep You Up All Night
- HSR Fate/stay night — best team comps and bond synergies
- 10 Underrated Films by Ben Mendelsohn You Must See
- 10 Underrated Films by Wyatt Russell You Must See
2026-02-14 20:54