Investors are betting big that the largest oil disruption in history might jolt the energy industry out of a yearslong slumber. The fallout from the war with Iran has rocketed oil prices above $100 a barrel and battered stocks and bonds in recent weeks, but it has also rewarded shareholders of America’s oil-and-gas companies—transforming a flagging industry into one of the market’s only havens. Over the past month, only one grouping within the S&P 500 has traded in the green, and it is energy. Shares in fuel-refiner Phillips 66 and major oil companies Chevron and Exxon Mobil just logged their…

Want to continue reading?

Unlock full access to The Currency and The Wall Street Journal with an Annual membership and receive a free Samsonite suitcase – worth €235 delivered to your door.

Subscribe

Cancel at any time.

Are you already a member? .