Friday, October 23, 2026
Two wars—Ukraine and Iran—have spotlighted how interdependent the global energy system is, and how easily it can be pushed off balance. The warring parties have focused on attacking and destroying energy infrastructure. The effects on the global energy system have been profound. Russia was a major exporter of crude oil and fuels; it is not […]
As the third-quarter earnings season approaches, I’m curious how the different energy sectors will report. I expect very good earnings, but also think upstream and downstream could have quite different results, and more importantly, different share price reactions. Upstream energy companies drill for crude oil and natural gas. Their results depend on production levels and […]
With crude oil continuing to trade at $90 to $100, and gasoline and diesel prices high enough to worry politicians, the wars in Ukraine and Iran have thrown global energy markets into disarray. To fully understand what’s happening, it’s important to also understand the broader energy sector, which divides naturally into three subsectors, depending on […]
Crude oil prices and the share prices of upstream energy stocks have been on a wild ride. Recently, WTI crude has dropped from $105 to about $90 per barrel. Upstream energy stocks have also fallen sharply. Here are the year-to-date stock charts with normalized returns for a couple of my favorite upstream stocks: Diamondback Energy […]
Although crude oil (WTI) is down from its recent high of almost $105 per barrel, even in the $90s, oil and fuel production will remain highly profitable for the energy sector. Several factors should support continued profits for energy companies. Even as shipping through the Strait of Hormuz returns to normal levels, I expect oil […]
As I write this (a week before publication), stocks have been falling as crude oil and the 10-year Treasury yield ratchet higher. Let’s take a look at what is going on in the markets. As I write this, WTI crude oil is at $103 per barrel, up from $70 on July 1. Continued disruptions to […]
The universe of ETFs that use option strategies to generate income and pay very attractive distribution yields is heavily invested into technology stocks these days. Precious metals and cryptocurrencies are also well represented. One asset class that has been poorly represented in these types of ETFs is energy. That remains the case, but I want […]
Last week I was a panelist and speaker at the MoneyShow Masters Symposium in Las Vegas. Attendees at these shows crave stock ideas. Here are some of the ones I shared… I talked about how business development company (BDC) share prices have dropped significantly due to the fears about private credit. Private credit is […]
Energy stocks posted strong share price gains as crude oil soared after the closure of the Strait of Hormuz. From late February to early April, crude oil futures went from $65 per barrel to a peak of $115 per barrel. Since mid-May, oil has fallen from $108 to a current $73 per barrel. Energy stocks […]
The closure of the Strait of Hormuz, which makes Persian Gulf crude oil and energy products effectively inaccessible, has resulted in many countries imposing fuel rationing. The decreased access to fuel also means refiners will have to start making decisions about what sorts of fuel they prioritize in their refining. Jet fuel has a unique […]
