S&P 500’s Energy Sector on Pace to Hit Record Annual Gain

The energy sector, battered by pandemic shutdowns in 2020, bounces back

The S&P 500 index’s energy sector is on pace for the biggest percentage gain on record, marking a comeback for a sector hard hit by early pandemic shutdowns.

The energy sector has gained almost 50% so far this year from a rebound in consumer travel, beating its last record of around 25% in 2016, according to FactSet data going back to at least 1990. Prices for U.S. crude and the global oil benchmark Brent crude have also gained over 50% this year.