周度表现：伊朗霍尔木兹风险重燃，能源跑赢标普500

Equity ResearchJuly 11, 2026 Global | Energy Weekly Performance: Energy Outperformed SPXon Renewed Iran/Hormuz Risk S&P Energy Index was up ~2.5% this past week, outperforming the S&P 500by ~137bps. Within the sub-sectors,US LNGwas the best performing for theweek, whileNAM Midstreamwas the worst performing (details within). •Weekly Best-Performing Energy Sub-Sector:US LNG (up ~5.9%); (+310bps vs XLE). VG wasthe sub-sector's best-performing stock (up ~9.7%); NFE was the worst-performing stock (up~2.0%).• Weekly Worst-Performing Energy Sub-Sector:NAM Midstream (up ~0.9%); (-187 bps vs XLE).SOBO CN was the best-performing stock (up ~4.6%) for the sub-sector; MPLX was the worst-performing stock (down ~0.9%).• Weekly S&P 500 sectors:Information Technology best performing (up ~3.6%); Health Careworst performing (down ~2.0%). Inside, we break down 1-week/QTD/YTD/LTM returns for the energy sector (by group and by company),incl E&P, Integrated, Refining, Oilfield Services, Midstream, and LNG. We also break down returns for theS&P 500 by sector. Lloyd Byrne * | Equity Analyst +1 (212) 323-7528 | lloyd.byrne@jefferies.com Julien Dumoulin-Smith * | Equity Analyst+1 (281) 774-2066 | jds@jefferies.com Mark Wilson, CEng ^ | Equity Analyst44 (0) 20 7029 8691 | mark.wilson@jefferies.com Sam Burwell, CFA * | Equity Analyst+1 (212) 284-2114 | sburwell@jefferies.com Dushyant Ailani, CFA * | Equity Analyst1 (212) 778-8318 | dailani@jefferies.com Rahul Kakkar * | Equity Analyst+1 (713) 308-4508 | rkakkar@jefferies.com Emma Schwartz * | Equity Analyst1 (212) 336-7254 | emma.schwartz@jefferies.com John Edelman * | Equity Analyst+1 (212) 336-7412 | jedelman@jefferies.com Roger Agarwal ‡ | Equity Analyst+1 (647) 588-5370 | ragarwal4@jefferies.com Spencer Duryee, CFA * | Equity Associate+1 (212) 444-4143 | sduryee@jefferies.com S&P 500 Sectors S&P 500 Sectors: One-Week, QTD, YTD & LTM Returns Energy Sub-Sectors (Break down by company within) Exhibit 10 - Energy Sub-Sectors: One-Week, QTD, YTD & LTM ReturnsEnergy Sub-Sectors: Returns Energy Sub-Sectors: One-Week, QTD, YTD & LTM Returns EXPLORATION & PRODUCTION In this section, we break down one-week, quarter-to-date (QTD), year-to-date (YTD), and trailing-12-month (LTM) total returns for NAM Large-Cap OilE&P, NAM Mid-Cap Oil E&P, US Small-Cap Oil E&P, and NAM Natural Gas E&P companies. NAM Large Cap Oil E&P NAM Large-Cap Oil E&P: One-Week, QTD, YTD & LTM Returns NAM Mid Cap Oil E&P NAM Mid Cap Oil E&P: One-Week, QTD, YTD & LTM Returns US Small Cap Oil E&P US Small Cap Oil E&P: One-Week, QTD, YTD & LTM Returns Exhibit 26 - US Small Cap Oil E&P: 1-Week Returns NAM Natural Gas E&P NAM Natural Gas E&P: One-Week, QTD, YTD & LTM Returns GLOBAL INTEGRATED In this section, we break down one-week, quarter-to-date (QTD), year-to-date (YTD), and trailing-12-month (LTM) total returns for Global integratedcompanies. Global Integrated: One-Week, QTD, YTD, & LTM Returns US REFINING In this section, we break down one-week, quarter-to-date (QTD), year-to-date (YTD), and trailing-12-month (LTM) total returns for US Refiningcompanies. US Refining: One-Week, QTD, YTD, & LTM Returns Exhibit 41 - US Refining: 1-Week Returns US OILFIELD SERVICES (OFS) In this section, we break down one-week, quarter-to-date (QTD), year-to-date (YTD), and trailing-12-month (LTM) total returns for US Large Cap, MidCap, and Small Cap Oilfield Services, along with Land Drilling and Offshore Drilling companies. US Oilfield Services Large Cap: One-Week, QTD, YTD, & LTM Returns US Oilfield Services Mid Cap US Oilfield Services Mid Cap: One-Week, QTD, YTD, & LTM Returns US Oilfield Services Small Cap US Oilfield Services Small Cap: One-Week, QTD, YTD, & LTM Returns Exhibit 56 - US Oilfield Services Small Cap: 1-Week Returns US Offshore Drillers US Offshore Drillers: One-Week, QTD, YTD, & LTMReturns US Oilfield Services - Land Drillers US Oilfield Services - Land Drillers: One-Week, QTD, YTD, & LTM Returns NAM Midstream In this section, we break down one-week, quarter-to-date (QTD), year-to-date (YTD), and trailing-12-month (LTM) total returns for the Key US andCanadian Midstream companies. NAM Midstream: One-Week, QTD, YTD, & LTM Returns US Liquefied Natural Gas (LNG) In this section, we break down one-week, quarter-to-date (QTD), year-to-date (YTD), and trailing-12-month (LTM) total returns for the Key US LNGcompanies. Liquefied Natural Gas (LNG): One-Week, QTD, YTD, & LTM Returns Company Valuation/Risks For Important Disclosure information on companies recommended in this report, please visit our website at https://javatar.bluematrix.com/sellside/Disclosures.action or call 212.284.2300. Analyst Certification: I, Lloyd Byrne, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subjectcompany(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectl