The Energy Sectors is MM ‘s favourite market exposure into Christmas, interesting its historically a classic late cycle bull market play which coincides with our view towards risk assets through 2022. The local sector has finally started taking note of the recent oil price highs. We believe the majority of local oil stocks will see fresh 2021 highs into Christmas with OSH touched on today looking destined to at least test $5.
NB For those that are wondering if the UK’s much discussed petrol shortage is linked the answer it’s no, things are tough at the petrol pumps in Britain due to a lack of HV drivers to transport the fuel as opposed to an underlying lack of petrol.
MM is bullish OSH initially looking for 15% upside
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