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Der Ölpreis fiel auf das Niveau seit den frühen Tagen des Iran-Krieges, da sich Flüsse durch die Straße von Hormuz erhöhen und Fortschritte in Richtung eines Interimsfriedensabkommens gemacht werden. Brent-Futures sank um 3,4 % auf $87,33, das niedrigste seit dem 5. März, und endete die Woche mit einem Rückgang von 6,2 %. West Texas Intermediate fiel um 3,2 % am Freitag, während europäische Gas um bis zu 8,4 % sank.

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Die Chevron Corporation CVX soll sich angeblich zusammen mit zwei argentinischen Energieunternehmen, YPF und Pluspetrol, mit Transportadora de Gas del Sur TGS für ein Projekt zur Gewinnung von Naturgas-Liquiden (NGLs) in Argentinien verbünden. Der Vertrag beinhaltet die Lieferung von Naturgas für das vorgesehene 3-Milliarden-Dollar-Projekt unter der Leitung von TGS. Chevron, YPF und Pluspetrol sollen etwa 80 % der Projektkapazität übernehmen. Die Unterzeichnung dieser Verträge erhöht die Wahrscheinlichkeit eines finalen Investitionsentscheids erheblich. Das Projekt beinhaltet die Umwandlung von Naturgas, einschließlich des Gasextrakts aus den Ölbohrungen, in hochwertige Flüssigkeiten wie Butan und Propan. Die höherwertigen NGLs können dann an internationale Märkte exportiert werden.

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Die National Fuel Gas Company NFG hat ihre Board of Directors informiert, dass sie eine 4%ige Erhöhung der Quartalsdividende genehmigt hat. Die Zahlung beträgt nun 55,5 Cent pro Aktie und wird am 15. Juli 2026 ausgezahlt. Der neue jährliche Dividendenbetrag liegt bei 2,22 Dollar pro Aktie im Vergleich zum vorherigen Betrag von 2,14 Dollar. Die aktuelle Dividendenertragsrendite beträgt 2,79%, höher als der Durchschnitt der Zacks S&P 500-Kompositumsatz von 1,44%.

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Quick Read

XLE has surged 31% year-to-date, nearly four times the S&P 500's return, with Exxon and Chevron alone comprising 41% of the concentrated fund. Exxon beat earnings estimates by 15% and Chevron by 46% as the Strait of Hormuz closure drove Brent crude to $138 per barrel in April. Hormuz reopening would deflate XLE's risk premium toward $75 crude, while OPEC spare capacity shrinking to 2.5M bpd means future disruptions hit harder. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Energy Select Sector SPDR ETF didn't make the cut. Grab the names FREE today.

If you put $10,000 into the Energy Select Sector SPDR Fund (NYSEARCA:XLE) on the last trading day of 2025 and forgot about it, you would be sitting on roughly $13,131 as of the June 8 close. The same $10,000 in the S&P 500 would be worth about $10,840. Energy, the sector everyone wrote off as a value trap stuck behind the AI trade, is up about 31% year to date against 8.4% for SPY. That gap, almost 23 points in five months, is the single most surprising scoreboard in the 2026 market.Miha Creative / Shutterstock.com

The headline you may have seen says 29%. The actual number is a touch better. XLE opened the year at $44.42 and closed Monday at $58.33. Over one year, the fund is up about 44%, versus roughly 23% for SPY. Over five years, it has more than doubled, up about 152%. The fund is a plain-vanilla SPDR with a fee that rounds to almost nothing, and it does one thing well, which is concentrate your money in a handful of the biggest US oil and gas names. Top of the book is heavy. Exxon at 23.7% and Chevron at 17.6% together are 41.3% of the fund. Add ConocoPhillips and EOG and you have most of the explanation.

What Actually Did the Work

The mechanism is straightforward. Sector concentration met a sector-specific catalyst, and the catalyst is geopolitics. According to the EIA, the Strait of Hormuz has been effectively closed to shipping traffic since late February following military action, removing access to a corridor that carried nearly 20% of global oil supply. Brent went vertical. Daily spot prices touched $138 per barrel on April 7, the highest since the weeks after Russia invaded Ukraine, and the April monthly average came in around $117 per barrel. WTI followed, with the YTD high at $114.58 on the same day.

Prices have since cooled. Brent printed $98.29 on June 1 and WTI sat at $95.96, which the St. Louis Fed places in the 82.8th percentile of its trailing 12-month range. That is the important part. Even after a meaningful pullback, crude is trading well above where the integrated majors built their 2026 budgets. The 12-month WTI average is $72.26, and current spot is more than $20 above it.

Story Continues

Now look at how the top holdings translated that into earnings. Exxon Mobil (NYSE:XOM) posted adjusted EPS of $1.16 versus a $1.01 consensus, a 15% beat and the fourth straight. Underlying earnings rose to $8.77 billion from $7.58 billion year over year, even after roughly $3.88 billion in unfavorable derivative timing and $706 million in Middle East supply-disruption losses washed through the GAAP line. CEO Darren Woods told investors that "ExxonMobil is a fundamentally stronger company than it was just a few years ago, built to perform through disruption and across market cycles." The buyback authorization for the year is $20 billion. The stock is up 27.8% YTD.

Chevron (NYSE:CVX) did even better at the EPS line, with $1.41 versus $0.97 expected, a 46% beat and the sixth in a row. Production jumped 15% year over year to 3,858 MBOED as the Hess deal bedded in, and US output cleared 2 million barrels per day for a third straight quarter. The company returned $2.5 billion in buybacks in the quarter, raised the dividend for a 39th consecutive year, and Mike Wirth framed the result as evidence that the portfolio held up "despite heightened geopolitical volatility and related supply disruptions." Shares are up about 27% YTD.

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ConocoPhillips (NYSE:COP) and EOG Resources (NYSE:EOG), the two big E&P names in the top ten, told a parallel story with a different texture. COP beat by roughly 12% on EPS, kept its target of returning 45% of cash from operations to shareholders, and pulled Qatar out of 2026 production guidance because of the Middle East situation. EOG benefited from the Encino acquisition, pushing production to 1,383.8 MBoed from 1,090.4 a year earlier and revenue up about 18% to $6.92 billion. EOG is the standout performer of the four, up about 36% YTD, with COP up 28.9%.

The pattern is clean. Three years of M&A (Hess into Chevron, Marathon into ConocoPhillips, Encino into EOG) finished integrating just as Brent prices spiked. The synergies are real, the cost work is real, and the capital return engines kept running on schedule. Then a Middle East shock dropped onto the top line. That is how a sector ETF turns a single-digit broad market into a 31% mover.

The Soft Patch Inside the Run

The recent tape complicates the story a little. XLE is up only about 5% over the last month, and crude has been the reason. WTI has fallen from a May peak near $112 to $96, and natural gas has gone in the other direction entirely, with Henry Hub dropping from a January 23 spike of $30.72 per MMBtu to $3.07 on June 1. The EIA now expects Henry Hub to average $2.83 per MMBtu in Q2 2026, 11% below Q2 2025. So one of the two commodities driving the rally is rolling over. The other has slipped about 16% off its high but is still pricing a risk premium.

What You Watch From Here

The forward look hinges on two indicators a reader can actually track. The first is the Strait of Hormuz. The EIA's May STEO assumes Brent averages around $106 per barrel in May and June, then steps down to $89 in Q4 2026 and $79 in 2027 as shut-in production gradually returns. If tanker traffic genuinely resumes, the risk premium that built XLE's YTD comes out of the price, and the integrated names re-rate toward a $75 to $85 crude backdrop rather than $95 to $100. The second is OPEC spare capacity, which the EIA now models at 2.5 million barrels per day in 2027, down from a prior estimate of 3.8 million. Less cushion in the system means the next disruption hits harder, which is the structural reason this trade has a longer half-life than a typical war-premium spike.

Retail is starting to notice. Reddit sentiment on XLE has run 76 to 80 (bullish to very bullish) over the past several days, anchored by a single WSB post titled "You hear that, Mr. Anderson? That is the sound of inevitability." Mention volume is still low, which is usually how these trades work before they get crowded. The Exxon news cycle, with retail flagging "Exxon warns oil inventories near record lows, price spike ahead" as the top driver on June 1, suggests the inventory tightness narrative is still doing work.

The honest read is that XLE's YTD is mostly a Hormuz trade wearing the costume of an earnings story. The earnings are genuine, the cost work is genuine, and the capital returns are durable. But the marginal dollar in the price came from a tanker chokepoint, and the EIA, the futures curve, and the integrated CEOs themselves are all guiding to a lower oil price in 2027. If the strait reopens cleanly, the broad market starts closing the gap. If it does not, or if the next disruption arrives before the first one resolves, the sector that has refused to quit in 2026 keeps doing exactly that. Watch Hormuz traffic, watch the Brent curve, and watch whether WTI holds the $90 line. That is the whole game from here.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Energy Select Sector SPDR ETF didn't make the cut. Grab the names FREE today.

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Shell plc SHEL has reportedly taken a significant step in re-establishing its presence in Venezuela by signing five agreements with the Venezuelan government to advance strategic oil and gas projects. The agreements mark a new phase in the relationship between the energy giant and the South American nation, highlighting the company's growing role in Venezuela's efforts to revitalize its energy sector and attract foreign investment.

The latest deals build on preliminary agreements signed earlier in the year and reinforce Shell's position as one of the first major international energy companies to capitalize on the country's renewed investment opportunities.

Loran Gas Field Takes Center Stage

At the heart of the agreements is Shell's participation in the Loran offshore gas field, a massive reservoir estimated to hold approximately 7 trillion cubic feet (Tcf) of natural gas. The field extends across maritime boundaries shared by Venezuela and Trinidad and Tobago, making it one of the region's most strategically important gas developments.

Venezuelan officials described the agreement as a historic milestone, as it advances the first phase of the Loran field's development plan. The project is expected to play a critical role in unlocking Venezuela's vast offshore gas resources and strengthening regional energy cooperation.

Supporting Venezuela's Gas Export Ambitions

The Loran project, alongside the 4.2-Tcf Dragon gas field in which Shell is also involved, is expected to pave the way for Venezuela's entry into offshore gas exports. Initial supplies are expected to be transported to Trinidad and Tobago, where the gas can be processed into liquefied natural gas (LNG) for international markets.

This development could create a new revenue stream for Venezuela while helping monetize the country's substantial untapped gas reserves. For Shell, the projects offer access to significant long-term gas resources in a region with growing export potential.

Broader Energy Cooperation Beyond Gas

The agreements extend beyond offshore gas development. Shell and Venezuela also reached a technical alliance aimed at expanding production from oilfields in Monagas North. Another pact focuses on procuring equipment and parts designed to reduce gas flaring, supporting operational efficiency and environmental performance.

Additionally, increased oil production linked to Shell's activities is expected to improve the availability of diluents used in producing Venezuela's flagship Merey crude blend and supplying domestic refineries.

Story Continues

Broader Industry Implications

The agreements come amid broader geopolitical and economic shifts, including efforts to revitalize Venezuela's energy sector. They are among the first major expansion deals following reforms aimed at attracting international capital.

At the same time, BP p.l.c. BP is also expected to participate in the Loran gas field and the adjacent Cocuina-Manakin offshore gas project under separate agreements signed with the Venezuelan government in April. BP already has exposure to the region through its Manakin-Cocuina exploration and production license, awarded in 2024. However, U.S. approvals were revoked, prompting BP to lobby for reinstatement.

Chevron Corporation's CVX joint ventures with PDVSA are already producing approximately 260,000 barrels per day — about a quarter of Venezuela's total output. In April, CVX also signed an asset swap agreement with PDVSA, expected to support a potential 50% increase in production over the next two years within its existing footprint.The restructuring also positions Chevron to compete more effectively as Venezuela opens its energy sector to increased foreign investment following regulatory reforms.

A Strategic Win for Shell

The latest agreements elevate Shell, currently carrying a Zacks Rank #3 (Hold), to one of the most important partners of Venezuela's state-owned energy company, PDVSA. Having previously scaled back operations and closed offices in the country, Shell is now emerging as a key participant in some of Venezuela's most significant energy projects.

With the Loran and Dragon developments moving forward, the company is positioning itself to benefit from future gas exports while strengthening its presence in a resource-rich region undergoing a gradual energy-sector revival. The agreements underscore Shell's commitment to pursuing attractive growth opportunities and expanding its role in the evolving global energy landscape.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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3 Market-Beating Stocks with Exciting Potential

The best-performing stocks typically have robust sales growth, increasing margins, and rising returns on capital, and those that can maintain this trifecta year in and year out often become the legends of the investing world.

The bottom line is that over the long term, earnings growth goes hand in hand with the biggest winners. Keeping that in mind, here are three market-beating stocks that could turbocharge your returns.

DXP (DXPE)

Five-Year Return: +420%

Founded during the emergence of Big Oil in Texas, DXP (NASDAQ:DXPE) provides pumps, valves, and other industrial components.

Why Will DXPE Beat the Market?

Impressive 16.8% annual revenue growth over the last five years indicates it's winning market share this cycle Operating margin improvement of 4.1 percentage points over the last five years demonstrates its ability to scale efficiently Share buybacks catapulted its annual earnings per share growth to 18.3%, which outperformed its revenue gains over the last two years

DXP's stock price of $167.65 implies a valuation ratio of 24.2x forward P/E. Is now the time to initiate a position? See for yourself in our in-depth research report, it's free.

Curtiss-Wright (CW)

Five-Year Return: +497%

Formed from a merger of 12 companies, Curtiss-Wright (NYSE:CW) provides a range of products and services to the aerospace, industrial, electronic, and maritime industries.

Why Should You Buy CW?

Annual revenue growth of 11% over the past two years was outstanding, reflecting market share gains this cycle Share repurchases over the last two years enabled its annual earnings per share growth of 18.9% to outpace its revenue gains Free cash flow margin grew by 6.3 percentage points over the last five years, giving the company more chips to play with

At $757.50 per share, Curtiss-Wright trades at 46x forward P/E. Is now a good time to buy? Find out in our full research report, it's free.

Chevron (CVX)

Five-Year Return: +71.9%

Operating everything from deepwater drilling rigs to corner gas stations, Chevron (NYSE:CVX) explores for, produces, and transports crude oil and natural gas, then refines that crude oil into gasoline, diesel, and other petroleum products.

Why Are We Positive on CVX?

4.1% annual revenue growth over the last ten years surpassed the sector average as its products resonated with customers Unparalleled revenue scale of $190 billion gives it advantageous pricing and terms with suppliers Solid free cash flow generation relative to most peers gives it a cushion and grants it various reinvestment opportunities

Story Continues

Chevron is trading at $185.65 per share, or 11.4x forward P/E. Is now the right time to buy? See for yourself in our full research report, it's free.

Stocks We Like Even More

WHILE YOU'RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses.

But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week — FREE. Get Our Top 9 Market-Beating Stocks for Free HERE.

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.

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With an annual dividend yield of 3.76%, Chevron Corporation (NYSE:CVX) is included among the 10 High Yield Crude Oil Stocks to Buy Now.Here is Why Chevron (CVX) is among the 10 High Yield Crude Oil Stocks to Buy Now

Photo by Luis Ramirez on Unsplash

Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.

Chevron Corporation (NYSE:CVX) has raised its dividend for 39 consecutive years, granting it the coveted title of a Dividend Aristocrat. The company maintained its strong commitment to shareholders even through multiple commodity downturns, including the oil market collapse in 2020, as its business has been designed to comfortably cover the payout even at crude prices below $50 per barrel.

To sustain its high distributions, Chevron Corporation (NYSE:CVX) expects to grow its free cash flow at a CAGR of more than 10% through 2030 at $70 oil. A significant catalyst to support this growth is the Tengizchevroil expansion in Kazakhstan, which is expected to add around $6 billion to the company’s annual free cash flow.

Chevron also revealed in its Q1 report last month that it remains on track to achieve its $3 to $4 billion structural cost reduction target by year-end. The program will help lower the oil and gas giant’s breakeven point even further and enhance profitability across cycles.

While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best Renewable Energy Stocks to Buy According to Billionaires and 14 Best Oil and Gas Stocks to Buy According to Hedge Funds.

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Quick Read

SCHD turned $1 million into $2.3 million since 2016, paying roughly $53,000 a year in cash dividends without reinvesting a single share. SCHD's index automatically drops dividend cutters, screens for 10 consecutive years of payments, and charges just 0.06%, making it a rules-based filter that sidesteps yield traps. New buyers entering at today's 3.82% yield must watch dividend growth and SCHD's spread over Treasury rates, not the past decade's price chart. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Schwab U.S. Dividend Equity ETF didn't make the cut. Grab the names FREE today.

A million dollars dropped into Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD) on June 8, 2016, with every quarterly dividend pulled out as cash the way an actual retiree would spend it, is worth about $2.3 million today. Along the way it kicked out roughly $527,000 in distributions, which works out to around $53,000 a year. That figure rose over time. The capital more than doubled, the income kept coming, and nobody had to sell a single share to fund it. That is the headline. The mechanism behind it is what matters.Tapati Rinchumrus / Shutterstock.com

What the arithmetic actually says

Most people quoting SCHD's track record cite total return with dividends reinvested, which inflates the comparison. The Fuse price feed shows an adjusted ten-year return of 228% from June 8, 2016 to June 8, 2026, calculated as if every distribution had been plowed back into more shares. That is not the retiree case. The retiree spends the dividends. So you should split the outcome into two buckets, price appreciation on a fixed share count, and cash distributions taken as income.

On the price side, the fund underwent a 3-for-1 split in October 2024, which is why the headline ticker price today reads $32.29 rather than something in the high $90s. Adjust for the split and the share count a million dollars purchased in 2016 has appreciated to roughly the $2.3 million figure, with about $1.35 million of that being capital gains. The dividend side did the rest. SCHD paid $0.2981 in March 2016 on a pre-split basis and was paying $0.2782 in December 2025 on a post-split basis, which once you back out the 3-for-1 reflects a meaningfully larger dividend per original share. Income grew. Principal grew. You wouldn't have had to reinvest a cent.

Why this fund, and not the other dividend funds

SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for companies with at least a decade of consecutive dividend payments and then weights survivors by a blend of cash flow to debt, return on equity, dividend yield, and five-year dividend growth. That methodology has two effects worth understanding. It quietly drops companies that cut payouts, which is how high-yield traps are avoided. And it tilts the portfolio toward mature businesses that generate more cash than they need, a company that can keep raising the dividend through a recession.

Story Continues

None of SCHD's holdings are exciting. That is the point. The sector tilt sits in utilities at 19.9%, communication services at 18.5%, and health care at 16.2%, with zero energy exposure in the sector breakdown despite COP and CVX sitting in the top holdings (a quirk of how the index classifies integrated names). Fees are essentially absent, with a 0.06% expense ratio on $71.6 billion in net assets. You are essentially paying for a rules-based filter on what is already a defensive universe.

That defensiveness explains the dividend growth. Boring blue chips with strong balance sheets raise payouts most years and rarely cut them. The 2024 distributions looked unusual, with $0.8241 in June 2024 and $0.7545 in September 2024, because the split came in October of that year and the pre-split dividends sit in the record at their original size. Normalize for the split and the trend is a steady climb, with 2025 quarters running between $0.2488 and $0.2782 on the new share base.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Schwab U.S. Dividend Equity ETF didn't make the cut. Grab the names FREE today.

What a retiree should actually watch from here

The current dividend yield sits at 3.27%, which is the most important number for anyone thinking about the next ten years rather than reliving the last ten. SCHD has rallied hard recently, up 21% in the trailing year and 18% year to date. A higher price on the same dividend stream means a lower starting yield for new money. The retiree who deployed a million dollars in 2016 was buying yield in the 3.5% to 4% range on cost that has since compounded. The retiree deploying a million today is buying almost the same yield on a portfolio that is now priced for the recovery.

The conditions that produced the run are mostly still in place. The methodology has not changed, the expense ratio has not changed, and the underlying companies still generate enough cash to keep raising payouts. What has changed is the entry price.

The leading indicators worth tracking are simple. Watch the rate of dividend growth quarter over quarter, because that is what compounds the retiree's income over a multi-decade horizon. Watch the fund's index reconstitution each spring, because additions and deletions reveal which names the rules engine is rotating into and out of. And watch the trailing yield against the ten-year Treasury, because when SCHD's yield compresses too far below the risk-free rate, the income case weakens even if the price case stays intact. A reader doing those three things will know whether the next decade looks like the last one well before any headline tells them.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Schwab U.S. Dividend Equity ETF didn't make the cut. Grab the names FREE today.

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Forty thousand shareholders descended on Omaha on May 2 for what had been billed as a generational transition. Greg Abel presided over the 2026 Berkshire Hathaway annual meeting as CEO for the first time. Warren Buffett was in the front row as Chairman.

During the lunch break, Buffett sat down with CNBC's Becky Quick. She asked him about energy prices. His answer was three words.

What Warren Buffett said about energy prices at the 2026 Berkshire annual meeting

Quick asked Buffett directly: higher energy prices , what does that mean for the economy and for Berkshire, which owns a major utility company?

"Well, I think it's all working. It's all working," Buffett told Quick, according to the CNBC transcript.

The response is vintage Buffett. No prediction, no alarm, no price target. Just a simple observation that the system, higher demand, higher investment, higher prices to fund that investment, is operating exactly as it always has.

The economy adjusts, the utilities build, the bills go up, and the people who own the infrastructure tend to do fine.

More Warren Buffett:

One of Warren Buffett's dividend stocks is key to reopening Strait of Hormuz Greg Abel sends Berkshire investors a powerful new signal Warren Buffett's Berkshire warns Americans on housing market

Buffett also told Quick the current investing environment is not ideal for deploying Berkshire's enormous cash pile.

"I've compared the markets to a church with a casino attached," he said, according to CNBC.

On energy, though, his tone was different: calm, matter-of-fact, long-term. Energy is not a casino. It is a toll road, and traffic is increasing.

What Greg Abel told shareholders about electricity demand, data centers, and who pays

The sharper operational detail came from Abel during the main meeting session. Abel told shareholders that Iowa, home to MidAmerican Energy, the utility he ran before becoming Berkshire's CEO, could see 50% electricity demand growth within five years, driven by data centers and AI infrastructure, according to OilPrice.com.

That figure deserves a moment. A 50% increase in electricity demand in five years, in a single state, from one category of customer.

Data centers do not turn off at night, do not reduce consumption during slowdowns, and are being built everywhere at a pace the grid was not designed to absorb.

Abel also addressed who should bear the cost of that demand. His position was unambiguous: new data center load should pay the full cost of its incremental demand on the system, not be spread across residential and commercial customers.

Story Continues

If a hyperscaler wants to plug 500 megawatts into the Iowa grid, Iowa homeowners should not be subsidizing the connection costs, according to OilPrice.com.

That argument has significant implications for anyone paying an electricity bill. If data center operators bear their own full infrastructure costs, energy prices for large tech users will rise substantially. If those costs get distributed across all ratepayers instead, every household pays more.

Either way, more people pay more. Abel's statement is a signal that Berkshire intends to fight for the former outcome.On energy, though, his tone was different: calm, matter-of-fact, long-term. Energy is not a casino. It is a toll road, and traffic is increasingZuchnik/Getty Images

Why the Berkshire energy message matters for American consumers and the broader economy

Berkshire Hathaway Energy is not a minor player in this conversation. BHE's pipeline network touches and moves 15% of all natural gas consumed across the entire United States.

The company owns PacifiCorp, NV Energy, and MidAmerican Energy, serving millions of customers across the western US and midwest. When Berkshire's leadership describes structural demand growth as a defining theme of the next decade, it is speaking from direct operational knowledge.

Berkshire's energy conviction also shows up in its equity portfolio. When Quick asked Buffett about higher crude oil prices in a March 2026 interview, he noted that Berkshire's two major oil positions, Chevron and Occidental Petroleum, go up a lot when energy prices rise. He was careful not to predict what comes next, but he has held both positions through extended periods of volatility, which is itself a statement of long-term directional confidence in energy demand, according to the CNBC transcript.

Abel also acknowledged the pressures the utility sector is under. The "regulatory compact" that has governed utilities for generations is under severe strain from inflation, wildfire liabilities, and accelerating demand growth.

PacifiCorp faced massive litigation after Oregon wildfires in 2020. Meeting 50% demand growth in five years while managing wildfire risk and regulatory scrutiny is a genuinely difficult operating challenge, not just a capital allocation opportunity.

For American consumers, the message from Omaha is straightforward even if it was delivered quietly. Energy infrastructure investment is accelerating because demand is accelerating. That investment costs money, and the only place that return can come from is the bills consumers and businesses pay.

The Iran war has already pushed energy prices higher in 2026. AI data centers are already pushing electricity demand higher in states like Iowa. Wildfire risk and grid modernization are already pushing utility capital requirements higher across the western US.

Each of those forces was present before the Berkshire annual meeting. Abel's comments put numbers on them. Buffett's three-word response framed them: the system is working, which means it is working as designed, and the design involves passing costs forward.

Buffett did not say energy prices are going up. He said the system is working. Those two statements are closer than they sound.

Related: Berkshire Hathaway sends urgent message to home sellers

This story was originally published by TheStreet on Jun 11, 2026, where it first appeared in the Economy section. Add TheStreet as a Preferred Source by clicking here.

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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Systematic Alternatives Active ETF, which added 44,800,000 units, or a 39.6% increase week over week. Among the largest underlying components of IALT, in morning trading today Parker-hannifin is up about 1.3%, and Chevron is higher by about 0.5%.

And on a percentage change basis, the ETF with the biggest increase in inflows was the Amplify Bloomberg AI Value Chain ETF , which added 250,000 units, for a 38.5% increase in outstanding units. Among the largest underlying components of AIVC, in morning trading today Marvell Technology Inc (MRVL) is up about 6.1%, and Micron Technology is higher by about 2.9%.

VIDEO: IALT, AIVC: Big ETF Inflows

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