ENERGY ENTERS ROTATIONAL BULL MARKET, BofA SAYS Bank of America says the energy sector is in a rotational bull market, driven by a shift away from large-cap tech. The XLE ETF outperformed the S&P 500 by 13% in January. Analyst Kalei Akamine notes the market remains uneven: global oil is oversupplied by ~2.5 million b/d, OPEC+ is pausing cuts, and recent Brent gains are largely short-term Iran-related moves. WTI is expected to stay around $60/bbl, with Venezuelan production declines supporting the outlook. BofA sees limited upside for large-cap energy names, as valuations are tied to cash yields, not revenue growth. Mid-cap companies like DVN, CTRA, OVV, and CRC offer more attractive opportunities.(*Walter Bloomberg)