Oil prices hits to peak as Wall Street scaled all-time highs

Bloomberg Aramco is the most profitable companies in the world

Oil prices reached the peak as it rose to their highest in more than a year, lifting energy stocks 2.2%, the most among major S&P sectors, the Saudi Press Agency (SPA) reported.

The defensive real estates, utilities and consumer staples underperformed.

Wall Street’s main indexes scaled all-time highs on Monday, as investors bets on hopes that a fiscal relief package and a global vaccine roll-out would lead to a speedy economic recovery, Reuters reported.

The S&P 500 and the Dow rose for the sixth straight session, their longest streak of gains since August, also helped by upbeat quarterly earnings. Nasdaq recorded 472 new highs and seven new lows.