After a stellar run fueled by multi-decade-high commodity prices in 2022, the energy sector has become a laggard in 2023 as investors turn their attention to growth stocks in sectors like tech, software and IT. With a year-to-date return of -3.8%, the energy sector is the worst performing of all 11 U.S. market sectors with the broad-based market benchmark S&P 500 having returned +8.6% over the timeframe. Energy stocks have been weighed down by weak oil and gas demand, oversupply, economic uncertainty, interest rate hikes and a stronger…
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