US energy stocks face fifth month of gains as MidEast conflict strains supply

S&P 500 energy sector index .SPNY on track for fifth-straight month of gains as oil prices rally on supply disruptions from the Middle East

The sector is the only one among the 11 S&P 500 sectors that is on pace to log gains this month and March would mark its longest monthly streak of gains since the period between Nov. 2020 and June 2021

Sector also on track to mark its biggest quarterly jump of 39% on record, as of last close, and is trading close to a record high

Shares of APA APA.O have jumped 44% this month, while Occidental OXY.N, Marathon MPC.N, Valero VLO.N and EOG Resources EOG.N have gained over 20% as of last close

APA, Occidental, Marathon, Valero, EOG up marginally on Tuesday; Brent oil futures set for record monthly gains

Barclays upgraded the U.S. energy sector to "neutral" from "negative" earlier this month

Expectations of higher windfalls from potential Venezuelan operations and investments also aided the sector earlier this year

SPNY starkly outperforms the S&P 500 .SPX on a year-do-date basis; the Wall St benchmark is down over 7%