Last week, the Biden Administration announced a massive, long-term (up to six months) plan to release a million barrels of crude oil per day out of the Strategic Petroleum Reserve. On that news, the WTI oil price “tumbled” from $108 to $104 per barrel
While I don’t think the move will bring energy prices back down to 2021 levels, it may give some price stability. More stable energy prices mean that investors need to rethink their energy sector investments.
Counting on share price appreciation may not be the correct strategy.
For the rest of the year, your energy sector investments should focus on those companies committed to paying attractive dividends…
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