BetaShares Global Energy Companies ETF – Currency Hedged (FUEL)

18/10/2021 09:25

Commodities

Crude oil and many other commodities continue to squeeze higher, it’s easy to say that’s enough lets take profit but the next week they’ve continued to grind out another fresh 2021 high and we all know human psychology makes it very hard to buy a market at a higher price than you’ve just sold it. As much as possible we like to keep things simple at MM i.e. keep it simple stupid (KISS):

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12/10/2021 09:37

Crude Oil

We have to go to back until 2014 to see brent crude trading around todays levels yet the Australian oil stocks cannot even break above their June high!

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11/10/2021 09:33

Commodities

Volatility is rife in the commodity sector at present with crude oil rallying 50% while iron ore has halved all in the matter of a few weeks, elastic bands as we like to say are becoming stretched but there are some major fundamental forces at play with China front and center:

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05/10/2021 09:18

Chart of the Week

Oil Search (OSH) is the best performing Australian oil stock over the last year but even it still remains well below its March high as crude oil continues to rally ever higher – we believe this is a cork that will pop and OSH could easily rally 20% very quickly which is a solid read through for the rest of the sector. NB: MM owns Santos (STO) which is taking over Oil Search (OSH).

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27/09/2021 09:03

Commodities

Commodity prices have been mixed over recent weeks but overall considering the worries around global growth caused by the demise of China Evergrande prices have held firm. Crude oil has actually broken up to fresh recent highs implying that concerns towards the demand side of the curve have dissipated, even if the rally is more supply driven.

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16/09/2021 09:20

3 “elastic bands” MM are monitoring closely

In Wednesdays Portfolio Positioning Report we illustrated the logic behind our bullish stance towards global energy names into 2022 with the disconnect between the underlying crude price and oil stocks feeling like it’s become way too stretched even if we are seeing a strong ESG move by mandated fund managers.

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16/09/2021 09:18

Crude Oil ($US/barrel)

Overnight crude oil advanced another 2.9% to withing striking distance of fresh multi-year highs. The Energy Sector hasn’t been a believer in the underlying commodities rally in 2021 but we feel the 18% advance in just 4-weeks should become too much for investors to ignore.

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08/09/2021 09:44

BetaShares Global Energy Companies ETF (FUEL)

We like the local BetaShares Global Energy Companies ETF (FUEL) around todays ~$4.20 area.

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01/09/2021 09:44

Global Macro ETF Portfolio

The portfolio slipped -0.49% over the past week and -1.07% through August although the only position to move by over 5% in the last week of August was our volatility position (VXX US) which fell -5.3%.  Again no major change here with most positions quiet through the week and we maintain the same plans moving forward as we look to tidy this portfolio...

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25/08/2021 09:27

Crude Oil December 2021 Futures ($US/barrel)

Overnight saw crude oil continue this week’s impressive recovery, its already ~10% above this month’s low which helped the US Energy Sector rally +1.6% overnight. As we discussed on Tuesday MM likes the Energy stocks today and if crude can close here, or higher, come Friday the technical picture will remain very supportive, now all we need is for...

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