Energy stocks top today's leaderboard, with the S&P 500 energy index up as much as 1.8% intraday to its highest since Nov. 12 as WTI crude racks up its fifth straight weekly gain - longest winning streak since November 2017 - and Brent crude closes above $70/bbl for the first time in five months.
Sparked by bullish U.S. employment data that eased fears about a decline in global crude demand and on expectations that an escalating conflict in Libya could tighten oil supplies, WTI settled +1.6% to $63.11/bbl and Brent closed +1.4% to $70.34/bbl.
J.P. Morgan analysts say U.S. energy stocks are poised to gain after underperforming both crude oil and the rest of the stock market.
Now read: Is NYMEX Crude Oil In A $50-$55 Range? »
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