Regardless of whether Energy stocks pop...they will eventually!
With the market volatility, many are wondering if the the price of WTI will hold, thus apprehensive.
With Saudi Arabia he77 bent on issuing $50 Billion in Aramco shares, they are going to continue to push for higher crude prices.
If Russia gets the impression that higher crude will somehow screw the US in it's fight against inflation...heck...they'll want to join the party too. Even if it's a "Cut off your Nose to Spite you Face" scenario...
EIA and API numbers will be out tomorrow and Thursday which will more than likely continue to keep WTI climbing as we continue with driving season and Hurricanes blasting away in the Guld of Mexico.
There is plenty of evidence to support higher prices...People keep squawking about China, but in spite of the downturn, their demand for crude remains strong.
GLTA