Analyzing the short- and long-term effects of oil prices, and the investment impact on the sectors, subsectors and key stocks.

More unnerving conflicts around the globe have flared up, but as usual, U.S. equity investors have given it nary a yawn as they seem to have become pretty much numb to the steady stream of unwelcome news, particularly out of the Middle East.

Utilities remain at the top of our weekly sector ranking. The only other sector to score above average this week is basic materials. Industrial goods and consumer goods score in line. Large and small cap industrial goods are better than mid cap.

Across our 1,800 stock universe, utilities remains the best scoring sector. Idustrial goods also score above the average universe score this week. Also in today's report is a chart breaking out historical monthly returns for utilities over the past decade.

Energy ETFs outperformed the overwhelming majority of competing sector investments in the previous bull market (10/02-10/07). In the early part of the run, the war in Iraq boosted the demand for shares. In the later stages of the rally, emerging economic growth fueled speculative excesses in both the price of oil as well as desire for ownership in exploration and/or oil services companies.