Oil and gas stocks are defying the odds.
The SPDR S&P Oil and Gas Exploration and Production ETF (XOP) is having its best quarter on record, up over 102% since April 1 despite concerns about oversupply. That’s more than triple its second-biggest gain from June 2008, when it ran nearly 31%.
Some traders aren’t buying the recent run, however.
“Energy is still the most beaten-up sector in the S&P long term,” Todd Gordon, managing director at Ascent Wealth Partners, said Tuesday on CNBC’s “Trading Nation.”
