Bet on Big Oil Stocks as a Defensive Hedge Against Market Volatility?

With crude oil prices rising to over $70 a barrel again, the energy sector has been the best-performing subsector of the S&P 500 this year. Led by big oil giants Chevron CVX and Exxon Mobil (XOM) , the energy sector has risen +8% year to date compared to the benchmark S&P 500's broader decline of -6%. Leading to the uptick in crude prices is that seasonal peaks in travel and industrial production are approaching with the warmer spring and summer months ahead. Although increased tariffs will lead to higher c ...