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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3871 Registered: 05-2011 Rating: N/A Votes: 0 Posted on Tuesday, January 04, 2022 - 12:12 pm:    Sector Briefing: Energy (59.21 +1.99) Seven sectors trade in the green with the energy sector (+3.6%) trading comfortably ahead of its peers. Key factors driving today's performance include: Support from a higher price of oil. WTI crude is up $1.09, or 1.5%, at $77.17/bbl. Oil has climbed above its 50-day moving average (75.97) to its best level in nearly six weeks. OPEC+ decision to increase output by 400,000 barrels in February. Continuation of a strong start to January. The sector has already gained 6.7% this week versus an 0.8% week-to-date advance in the S&P 500 (+0.1%). Notable movers: Occidental Petroleum (OXY 33.72, +2.66, +8.5%): best performer in the sector, rallying to its best level in nearly two months. Halliburton (HAL 25.74, +1.75, +7.3%): rising to a two-month high. Morgan Stanley upgraded the stock to Overweight from Equal Weight with a $30 target. Hess (HES 81.42, +4.63, +6.1%): rallying past its 200-day (78.18) and 50-day (78.98) moving averages to a one-month high. Marathon Oil (MRO 17.71, +0.84 +5.0%): rising to its best level since April 2019. Devon Energy (DVN 47.84, +2.27, +5.0%): rising to a five-year high. EOG Resources (EOG 95.66, +4.50, +5.0%): rising to its best level since mid-November. ConocoPhillips (COP 76.58, +2.81, +3.8%): approaching its October high (77.98). Exxon Mobil (XOM 65.79, +2.25, +3.5%): nearing its November high (66.38). ONEOK (OKE 61.33, +1.34, +2.2%): rising toward its 50-day moving average (61.72). Chevron (CVX 121.79, +2.53, +2.1%): rising to a two-year high. Kinder Morgan (KMI 16.66, +0.31, +1.9%): rising to its best level since mid-November. HollyFrontier (HFC 34.04, +0.17, +0.5%): weakest performer in the sector, climbed to a one-month high before surrendering its gain.