Deep Dive The long-term supply and demand mix for oil and natural gas appears may set up a ripe play for investors Investors have gotten more comfortable with the long-term supply/demand outlook for oil and natural gas prices. Harris Kupperman, the president of Praetorian Capital, made a couple of interesting calls heading into 2022. He predicted that stocks of the giant tech-oriented companies that led the bull market would be sold off, and that oil prices would continue to rise through the end of 2022. The first prediction came true, while the second one for oil prices fizzled. After rising to $130 in March, oil prices have fallen back to where they started the year. Then again, that second prediction still could have made you a lot of money because the share prices of oil companies kept rising anyway. That leads to a new prediction for 2023 and a related stock screen below. Here’s a chart showing the movement of front-month contract prices for West Texas Intermediate (WTI) crude oil CL since the end of 2021: FactSet Even though Kupperman didn’t get his oil price call right, the energy sector of the S&P 500 SPX was up 60% for […]
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