Canadian energy stocks surge on oil prices, set to reach all-time highs for the first time since 2008

S&P/TSX Energy Index has risen 19% so far this year, far outperforming the broader market (S&P/TSX Composite Index), which gained 5.5%. Geopolitical conflicts have pushed up oil prices, while winter storms have driven up gas prices. At the same time, government support for export pipelines and improvements in corporate fundamentals (such as reduced debt and increased profits) are also important drivers.