Cameco, Occidental Petroleum, and Cheniere Energy gain over 24% in 2026 amid soaring electricity and oil demand.
Energy stocks are climbing as data centers drive unprecedented electricity demand, with Bank of America forecasting a fivefold increase in growth over the next decade. Geopolitical tensions in Iran have further lifted oil and gas prices, boosting the sector’s appeal.
Cameco, Occidental Petroleum, and Cheniere Energy have each risen at least 24% year-to-date. Cameco leads with a 27% gain in 2026 and a 124% surge over the past year, fueled by nuclear energy’s resurgence as countries aim to triple capacity.
Cameco’s vertical integration—spanning uranium mining, joint ventures, and a stake in Westinghouse—positions it to benefit from rising uranium demand and nuclear infrastructure expansion.