After enjoying a monster rally in 2022, energy stocks are heading into an uncertain new year. Energy stocks surged this year after the war in Ukraine interrupted the global oil supply, and drove up the price of a barrel of oil. Soon after the start of the conflict, Brent crude topped $120 a barrel in March before eventually falling back to about $83 a barrel this month. For investors, a bullish stance on energy coming into the year has meant outsized gains.
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Of course they did. They've been price gouging us all this time and laughing all the way to the bank, hoping we'd be stupid enough to blame Biden/Democrats for it during the midterms.