Goldman Sees $100 Oil Coming, And One Income ETF Bets 47% They're Right

"Launched in August 2022, DRLL was built on a specific premise: ESG-influenced asset managers were pressuring energy companies to underinvest in oil and gas. Strive's answer was an ETF designed to push holdings toward maximum production and shareholder returns, not carbon reduction targets. With 98.6% of the portfolio in energy and nearly half the fund split between Exxon Mobil and Chevron, the exposure is about as concentrated as it gets in public markets."

"Bulls point to the fund's clean fossil-fuel mandate and its sensitivity to oil price spikes. A March 4, 2026 analysis from 24/7 Wall St. described it as an ETF that will 'capture every explosive move when oil gets volatile.' Critics, including a January 2026 Seeking Alpha piece titled 'DRLL: Worst House On A Bad Street,' argue the fund has consistently underperformed peers like XLE and VDE by 12-13% since inception and carries a higher expense ratio than comparable passive funds."

"The biggest macro driver for DRLL right now is the escalating conflict around Iran and the Middle East. Roughly 20% of global oil supply transits the Strait of Hormuz, and any disruption there hits crude prices immediately. Goldman Sachs noted this week that 'an escalation of the conflict in Iran could lead to a temporary surge in oil prices to $100 per barrel.'"

The Strive U.S. Energy ETF (DRLL) has capitalized on rising crude oil prices, gaining 26.32% year-to-date as WTI crude surged 10.3% in a single month to $71.13 per barrel. Launched in August 2022, DRLL was designed to counter ESG-influenced pressure on energy companies by focusing on maximum production and shareholder returns rather than carbon reduction. The fund maintains extreme concentration with 98.6% in energy stocks, split nearly evenly between Exxon Mobil and Chevron. Market sentiment remains divided: bulls highlight the fund's sensitivity to oil volatility and potential for explosive gains, while critics note consistent underperformance of 12-13% versus peers like XLE and VDE since inception, coupled with higher expense ratios. Geopolitical tensions in the Middle East, particularly around the Strait of Hormuz through which 20% of global oil transits, represent the primary macro driver, with Goldman Sachs projecting potential oil prices reaching $100 per barrel if conflict escalates.

Read at 24/7 Wall St.