Despite oil and gas prices retreating from their peaks due to macroeconomic uncertainties caused by inflation and high-interest rates, the energy sector is expected to stay afloat due to strong demand for oil and gas. Let’s discuss the strong fundamentals of best-performing energy stocks, Marathon Petroleum Corporation (MPC), Valero Energy Corporation (VLO), PBF Energy Inc. (PBF), Unit Corporation (UNTC), and Epsilon Energy Ltd. (EPSN).
Dashing all hopes, the latest inflation report and the U.S. bank failures sparked fears of a fresh financial crisis, following which oil prices plunged over 4% to a three-month low. Fears of higher interest rate hikes from the Fed led to a decline in crude prices.
