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It comes as oil prices rebound on elevated Middle East tensions, with market participants monitoring the prospect of supply disruptions from the region.
The Federal Reserve is now expected to start reducing interest rates in September, much later than originally forecast.
Bob McNally, founder and president of Rapidan Energy, said global crude markets still have not factored in $10 of geopolitical risk.
Israel warned OPEC member Iran Wednesday it would attack the Islamic Republic if Tehran strikes Israel.
Energy prices are hot, and an income-focused play on the sector is getting some attention.
The investment bank expects the Federal Reserve to start cutting interest rates in July, though still sees 75 basis points of cuts through year end.
Israel Prime Minister Benjamin Netanyahu vowed late Monday to press on with an offensive against the southern city of Rafah.
Energy is up 17% for the year, significantly outpacing the 9% gain for the S&P 500 and second only to the media and entertainment sector, which is up 20%.
A top Iranian military advisor warned Israel over the weekend that its embassies could be targeted.
Hybrids are surging in popularity at the expense of EVs. Is it the right consumer economics decision for the long-term?