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The energy sector (XLK) has continued to outperform throughout 2024. Alpine Saxon Woods Chief Market Strategist Sarah Hunt and CFRA Energy Equity Analyst and Deputy Research Director Stewart Glickman join Market Domination to share insight on navigating this sector. Glickman emphasizes that investors looking to capitalize on the energy sector should first consider their outlook for crude oil prices. He believes that with crude oil prices are expected to average between $80 and $90 per barrel in 2024: "In that kind of environment, you want to be positioned in upstream," the analyst tells Yahoo Finance. He recommends exploring names like Exxon (XOM), citing "a lot of growth potential." With an uptick in mergers and acquisitions (M&A) activity throughout the sector, Glickman notes that the "common theme" is exposure to the Permian Basin, a trend he believes is "likely to persist." Hunt acknowledges that supply and demand issues have been a headwind for the sector since the pandemic. However, with an "energy transition underway" she remains bullish on energy "from a longer-term perspective." She also highlights the significant consolidation within the sector, with companies combining forces to boost operations and enhance their competitive edge. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith

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