Things couldn’t get much worse for fossil fuels…
The clean-energy revolution is reducing demand for oil and natural gas in the long term. Meanwhile, fears of a global recession are higher than ever… weighing on demand in the short term.
Put it all together, and it’s a tough time to invest in energy. It’s the worst-performing sector in 2024 so far. And oil prices just hit their lowest point since 2021.
Now, everyone has given up on oil. Sentiment just fell to one of its lowest levels in recent history. But don’t let that fool you… If history is any guide, a major rally is about to begin.
This post originally appeared at DailyWealth.