As of last Friday, full-year 2026 earnings growth estimates, according to LSEG data, were nearly 16%, up from 14% last year and 12% the year before. Average oil prices this year will almost certainly be much higher than businesses were budgeting for on Jan 1. Sustained higher oil prices boost energy sector profits, and double-digit earnings growth for the sector is not out of the question. AI arms race even more expensive nowWithin current 2026 earnings growth forecasts, there is incredibly wide dispersion among the 11 sectors. But higher energy prices are a blow for the mega-cap firms leading the artificial intelligence (AI) arms race.

Source: The Star March 12, 2026 23:26 UTC