Oil Stocks Outpace Broader Market In May, Underperform in YTD

摘要

The IPF index rose 10.4% last month, outperforming the S&P 500 and the FT World Actuaries Index, which rose 5.3% and 8.8%, respectively, in the same period. The gains in oil company shares were attributed to a recovery in investor confidence and the rally in oil prices, which ended May at a six-month high of $66.31 per barrel, due in part to a weakening US dollar.