Crude oil futures rallied almost 5% over the last week, with NYMEX February WTI standing at $79.50 per barrel as of Friday.
The gains have been driven by multiple supply-side factors, including unrest in Kazakhstan, pipeline maintenance work in Libya, and a deep freeze in Canada and the northern United States.
Higher crude prices bode well for oil and gas majors such as Chevron (NYSE:CVX). CVX stock has returned about 37% over the last 12 months.
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|S&P 500 Return||-1%||-1%||110%|
|Trefis MS Portfolio Return||-6%||-6%||271%|
 Month-to-date and year-to-date as of 1/9/2022
 Cumulative total returns since the end of 2016