Energy Stocks Set to Beat Broader Market by Biggest Margin Ever

US energy stocks are on track to top the broader market by the biggest margin ever, as investors rushed to the group amid the Middle East war and a broader rotation away from pricey technology names.

The S&P 500 Energy Index is up 39% in the first quarter so far, compared to a 7% decline in the S&P 500 Index. The group has been on a stellar winning streak, rising for 14 straight weeks, far ahead of the previous record from 2007 when they rose for nine weeks. Firms like Exxon Mobil Corp. and ConocoPhillips are on track for best-ever quarterly performances, with more than 40% gains in the first three months of the year.