NEW YORK (AP) — Soaring oil prices weighed on energy stocks into 2022 and could continue to support the sector despite a looming recession and stubbornly hot inflation putting pressure on consumers.

The sector’s 50% surge this year stands out in the S&P 500, while all other sectors have lost ground. Big names like Exxon Mobil are up even more, with gains of nearly 75%. This is in stark contrast to the benchmark index’s 20 percent slide.

The sector’s strong gains were ushered in earlier this year after…