In the feature article of our last issue, “The View from $60 Plus Oil,” we outlined our constructive outlook for crude oil prices based on three primary drivers: Recovering global demand, continued supply discipline from OPEC+ and restrained growth from the US shale producers.
While front-month West Texas Intermediate futures prices pulled back as much as 12.6% from their closing highs in early March to their late March closing low, out outlook remains largely unchanged.
We view the recent commodity price pullback as normal volatility – trading noise – rather than the symptom of some deterioration in the fundamentals. Moreover, speculative long positions in the WTI and Brent futures market had become somewhat stretched in February:
Your complete guide to energy investing, from growth stocks to high-yielders.
In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.
Elliott and Roger on Mar. 25, 2021
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