The energy sector surged, with the XLE ETF climbing 1.76%, as crude oil prices remained elevated. West Texas Intermediate (WTI) crude futures were near $92 a barrel, and Brent crude was close to $97. [3] The primary driver is the ongoing conflict with Iran, which has restricted oil flow through the critical Strait of Hormuz. [3, 4] This sustained period of high commodity prices is boosting the outlook for oil and gas company earnings, leading to broad-based gains across the sector.