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June 27, 2026

Energy Equities Stabilize, Cracks Rise, Oil / WCS Fall

Weekly UpdateEquitiesCommoditiesEnergy

The energy sector outperformed the S&P 500 last week, driven by strength in US Refining, while Integrated energy companies underperformed.

Key Takeaways

  • 1.S&P Energy Index outperformed the S&P 500 by approximately 212 bps over the last week.
  • 2.US Refining was the best-performing energy sub-sector for the week (+6.1%), while Global Integrated was the worst-performing (-1.9%).

Table of Contents

  • Exploration & Production
  • Global Integrated
  • US Refining
  • US Oilfield Services (OFS)
  • NAM Midstream
  • US Liquefied Natural Gas (LNG)

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Authors

Lloyd ByrneJulien Dumoulin-SmithMark WilsonSam BurwellDushyant AilaniRahul KakkarEmma SchwartzJohn EdelmanRoger Agarwal

Securities

PBFVLO

Themes

Energy Sector OutperformanceRefining Strength

Regions

North AmericaGlobalUnited StatesCanada