Energy Stocks Rally on Russia Sanctions Boost

Energy shares surged after Washington imposed sanctions on Russia’s top oil majors, lifting crude prices nearly 5% to $61 a barrel. ExxonMobil (+3.5%), Chevron (+3%), and Occidental (+2.8%) led gains as investors rotated into the energy sector. Analysts view the move as short-term bullish for U.S. producers amid tightening global supply. Oil prices also benefited from strong U.S. refining margins and renewed OPEC output discipline. The Energy Select SPDR Fund posted its best daily performance in three months.