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With attacks on Saudi Arabian oil facilities disrupting more than 5% of global supply and oil prices surging by nearly 10%, one would have thought we would be in for a rough day in the equity market.  While the opening bell still hasn’t even rung yet, US equity futures are indicating only a modest decline, so it could be worse.

One sector that will benefit from the flaring tensions in the Middle East is the Energy sector.  In pre-market trading, the Energy sector ETF (XLE) is trading up close to 5%.  Interestingly enough, did anyone notice that heading into this weekend, the Energy sector was the best performing sector so far this month after being the worst performer YTD through the end of August (table below)?