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Over the past 12 months, there has been a tonne of action in markets. Several industries have lagged due to the coronavirus pandemic, while others have seen massive tailwinds. With all that’s gone on, though, it can be easy for some of the best value stocks to slip through the cracks. That’s precisely what’s happened to energy stocks over the last few months. Energy stocks were some of the worst impacted companies in 2020. While a lot of attention went to businesses in travel, hospitality, and tourism, energy producers were hit significantly. In addition to a significant fall in oil prices, energy companies also had to deal with production curtailments. This resulted in a major selloff in energy stocks. However, while this was warranted in 2020, in 2021, with an economic recovery now in sight, energy stocks present some of the best value investments. WTI oil crosses $50 a barrel On Tuesday, West Texas Intermediate (WTI) oil prices crossed $50 a barrel for the first time since February. While this is due to various factors, the primary reason for the momentum on Tuesday was a report that Saudi Arabia may voluntarily cut its production over the next few months. […]
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