Energy has been the worst-performing sector over the past year, with returns under 1%, in contrast to the S&P 500's 34% gain, driven largely by weak oil demand.
While the immediate outlook for oil prices has strengthened due to geopolitical tensions, long-term projections by the EIA indicate a potential price range of $51 to $190 a barrel by 2050.
Billionaire hedge fund investors are increasingly purchasing oil stocks, reflecting a belief that despite current underperformance, fossil fuels will continue to hold significant value in the future.
The current situation in the Middle East adds pressure on oil supply, with rising tensions that heighten concerns over potential disruptions, impacting both short-term prices and market sentiment.
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