Since the beginning of the year, the stock markets have been experiencing wild price swings driven by rising investor concerns over high inflation, growing tensions related to Ukraine and Russia hostilities, and forthcoming Federal Reserve Bank interest rate increases. The benchmark S&P 500 index is down 8% year-to-date and 4.6% over the past three months.
However, several S&P 500 stocks, including Occidental Petroleum Corporation (OXY), Halliburton Company (HAL), and Marathon Oil Corporation (MRO), are up more than 30% in price year-to-date. These energy stocks have been in focus of late as Brent crude crossed the $100 a barrel for the first time since 2014. The escalating tensions between major oil-exporting and transportation countries Russia and Ukraine have caused oil prices to skyrocket.
