Oil price surged last week on potential disruptions in output in the Gulf of Mexico and growing expectations that the Organization of the Petroleum Exporting Countries (“OPEC”) and allies including Russia, collectively known as OPEC+, might resist raising output. In fact, oil logged the biggest weekly gains since June 2020, with WTI jumping more than 10% and Brent climbing above 11%.A powerful hurricane has ploughed through the Gulf of Mexico, forcing shutdowns and evacuations of hundreds of offshore oil platforms. Notably, Gulf of Mexico offshore wells account for 17% of U.S. crude production, while more than 45% of total U.S. refining capacity lies along the Gulf Coast.Oil producers in the U.S. Gulf of Mexico have halted 91% of crude production due to Hurricane Ida, which was upgraded from a tropical storm to a Category 1 hurricane on Aug 27. Ida smashed into the coast near Louisiana’s Port Fourchon, a hub of the Gulf's offshore energy industry, on Sunday as an extremely dangerous Category 4 hurricane, per the National Hurricane Center. Energy companies had evacuated 290 offshore facilities — more than half of those in the Gulf of Mexico — and 11 drill rigs by Aug 29.Meanwhile, OPEC+ is scheduled to meet on Sep 1 to reconsider the increase in oil output agreed last month (read: Is This the Time for Crude Oil & Energy ETFs?).A weaker dollar added to the strength as it makes oil less expensive for foreign investors. However, improving supply in Mexico, looming worries over the spread of the coronavirus’ Delta variant, and mixed economic data from the United States and China continued to weigh on oil price.As such, we have highlighted five energy ETFs & stocks that led the way higher last week:Best ETFsMost of these energy ETFs currently have a Zacks ETF Rank #2 (Buy) or 3 (Hold) and could be excellent choices to play the trend at least in the near term.Invesco DWA Energy Momentum ETF PXIThis fund follows the Dorsey Wright Energy Technical Leaders Index, which measures the performance of the companies that are showing relative strength (momentum).Zacks Rank: #3AUM: $70 millionExpense Ratio: 0.60%Last Week: 16.9%Invesco S&P SmallCap Energy ETF PSCEThis fund offers exposure to the small-cap segment of the energy sector by tracking the S&P Small Cap 600 Capped Energy Index (read: Small-Cap ETFs That More Than Doubled in a Year).Zacks Rank: #3AUM: $110.7 millionExpense Ratio: 0.29%Last Week Return: 16.3%SPDR S&P Oil & Gas Equipment & Services ETF XESThis fund tracks the S&P Oil & Gas Equipment & Services Select Industry Index, which measures the performance of the companies engaged in the oil and gas equipment and services industry.Zacks Rank: #3AUM: $139.7 millionExpense Ratio: 0.35%Last Week Return: 15.2%SPDR S&P Oil & Gas Exploration & Production ETF XOPThis fund provides exposure to oil and gas exploration and production companies by tracking the S&P Oil & Gas Exploration & Production Select Industry Index (read: Oil Price Slumps: What Lies Ahead for Energy ETFs?).Zacks Rank: #2AUM: $2.9 billionExpense Ratio: 0.35%Last Week Return: 14%iShares U.S. Oil Equipment & Services ETF IEZThis ETF offers exposure to the U.S. companies that provide exposure to firms involved in equipment and services for oil exploration and extraction by tracking the Dow Jones U.S. Select Oil Equipment & Services Index.Zacks Rank: #3AUM: $96.4 millionExpense Ratio: 0.41%Last Week Return: 13.5%Best StocksWe have highlighted the best-performing stocks that currently have a Zacks Rank #1 (Strong Buy), 2 or 3. You can see the complete list of today’s Zacks #1 Rank stocks here.Laredo Petroleum Inc. LPIIt is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States.Zacks Rank: #3Value Score: AMarket Cap: $843.6 millionLast Week Return: 38.7%Talos Energy Inc. TALOThis company is engaged in exploration, development and production of oil and natural gas properties.Zacks Rank: #3VGM Score: AMarket Cap: $1.02 billionLast Week Return: 38.1%Callon Petroleum Company CPEIt is solely focused on exploration, and production of oil and gas resources in the Permian Basin.Zacks Rank: #3VGM Score: AMarket Cap: $1.58 billionLast Week Return: 26.9%Nabors Industries Ltd. NBRIt is one of the largest land-drilling contractors in the world, conducting oil, gas and geothermal land drilling operations.Zacks Rank: #3VGM Score: BMarket Cap: $700.37 millionLast Week Return: 26.3%Centennial Resource Development Inc. CDEVThis independent oil and gas exploration and production company primarily develops unconventional hydrocarbon reserves in the Delaware Basin, part of the prolific Permian Basin (see: all the Energy ETFs here).Zacks Rank: #3Momentum Score: BMarket Cap: $1.45 billionLast Week Return: 24.8% Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nabors Industries Ltd. (NBR): Free Stock Analysis Report Laredo Petroleum, Inc. (LPI): Free Stock Analysis Report Callon Petroleum Company (CPE): Free Stock Analysis Report iShares U.S. Oil Equipment & Services ETF (IEZ): ETF Research Reports SPDR S&P Oil & Gas Exploration & Production ETF (XOP): ETF Research Reports SPDR S&P Oil & Gas Equipment & Services ETF (XES): ETF Research Reports Invesco S&P SmallCap Energy ETF (PSCE): ETF Research Reports Invesco DWA Energy Momentum ETF (PXI): ETF Research Reports Centennial Resource Development, Inc. (CDEV): Free Stock Analysis Report Talos Energy Inc. (TALO): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research