{"id":58245,"date":"2023-09-07T20:05:42","date_gmt":"2023-09-08T00:05:42","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/the-energy-sectors-winning-streak-comes-to-a-halt\/"},"modified":"2023-09-07T20:05:45","modified_gmt":"2023-09-08T00:05:45","slug":"the-energy-sectors-winning-streak-comes-to-a-halt","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58245","title":{"rendered":"The Energy Sector&#8217;s Winning Streak Comes to a Halt"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000737188\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>The S&amp;P 500 Energy Sector\u2019s winning streak has come to an end.<\/p>\n<p>The sector closed just 0.2% lower on Thursday to snap an eight-day winning streak\u2014the group\u2019s best run since March 2022. If the sector had closed higher Thursday, that would\u2019ve brought it to its best stretch in more than a decade, with its last nine-day winning streak back in October 2009.<\/p>\n<div class=\"paywall\">\n<p>The group\u2019s recent gains have been all about oil, with WTI crude prices rising 3.9% so far this month. Crude, like energy stocks, fell Thursday: Front Month Nymex Crude for October delivery lost 67 cents per barrel, or 0.77% to $86.87. That broke an even longer winning streak of nine days, the commodity\u2019s longest since January 2019. <\/p>\n<p>Still, don\u2019t feel too bad for energy investors. The S&amp;P 500 Energy Sector has climbed 2.5% for September, a notable rise when the sector has risen just 3.3% year to date overall. <\/p>\n<p>And more gains could be in the works, with the energy sector severely lagging behind the S&amp;P 500\u2019s year-to-date rise of 16%. In fact, some market watchers predict a steeper rise to come in oil prices in the remaining months of 2023. UBS this week predicted that crude prices could rise roughly another 6% this year, forecasting the U.S. WTI benchmark will hit $91 a barrel by the end of December<em>.<\/em><\/p>\n<p>As many of these energy stocks tend to move in tandem with the oil, investors might not want to take Thursday\u2019s broken winning streak as a sell signal just yet.<\/p>\n<p>Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/oil-stocks-prices-crude-3acaaea6?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 Energy Sector\u2019s winning streak has come to an end. The sector closed just 0.2% lower on Thursday to snap an eight-day winning streak\u2014the group\u2019s best run since March 2022. If the sector had closed higher Thursday, that would\u2019ve brought it to its best stretch in more than a decade, with its last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-58245","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Energy Sector&#039;s Winning Streak Comes to a Halt | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The S&amp;P 500 Energy Sector\u2019s winning streak has come to an end. 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