Crude Oil Prices: JRBRX invests in energy companies; crude oil price fluctuations significantly impact these companies' profitability and stock valuations.

Natural Gas Prices: Similar to crude oil, natural gas price movements directly affect the performance of companies involved in natural gas exploration, production, and transportation.

Energy Sector Sentiment: Overall investor sentiment towards the energy sector influences demand for energy stocks, including those held by JRBRX, driving price changes.

Interest Rates: Rising interest rates can make energy investments less attractive compared to bonds, potentially reducing demand and lowering the price.

Geopolitical Events: Global political events and tensions, especially in oil-producing regions, can create supply disruptions and price volatility.

Economic Growth: Global and domestic economic growth influence energy demand; higher growth typically leads to increased demand and prices.

Inflation: Rising inflation can impact energy companies' costs and consumer demand, ultimately affecting their profitability and stock prices.

Regulatory Changes: Government regulations and policies related to energy production, consumption, and environmental standards can significantly impact energy company operations and valuations.

Company Performance: The financial performance of the individual energy companies held within JRBRX's portfolio directly impacts the fund's overall value.

Currency Fluctuations: Currency exchange rates, particularly the US dollar's strength, can affect the value of international energy investments held by JRBRX.