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BetaShares Global Energy Companies ETF – Currency Hedged (FUEL)

$4.89
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What does Bull and Bear mean?

Market Matters View Point?

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Market Matters
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MM remains bullish crude oil

OPINION

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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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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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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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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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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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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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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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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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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ACTION

FUEL
UPDATED 18/10/2021 17:27
MM remains bullish crude oil
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FUEL
UPDATED 11/10/2021 16:46
MM remains bullish crude oil
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FUEL
UPDATED 27/09/2021 10:01
MM remains bullish the Energy Sector into 2022
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FUEL
UPDATED 17/09/2021 09:02
MM remains bullish crude oil & related stocks
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FUEL
UPDATED 09/09/2021 09:04
MM is looking to buy the FUEL ETF for exposure to a cheap Energy Sector and reflation moving forward
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FUEL
UPDATED 08/09/2021 11:41
MM are buying FUEL in the Macro ETF Portfolio, allocating 10% around $4.23
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FUEL
UPDATED 02/09/2021 09:06
In the near future MM is looking to switch between the local ETF’s ATEC and FUEL
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FUEL
UPDATED 26/08/2021 07:50
MM is bullish crude oil into Christmas
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FUEL
UPDATED 24/08/2021 16:45
MM likes the FUEL ETF ~$4.00
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FUEL
UPDATED 24/08/2021 16:44
MM is bullish crude oil from current levels
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A simple way to gain exposure to the world’s largest energy companies

FUEL aims to track the performance of an index (before fees and expenses) that comprises the largest global energy companies (ex-Australia), hedged into Australian dollars.

The ETF is listed on the Australian Stock Exchange (ASX) under code FUEL

For more information – Click here to go to the ETF information page

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Crude Oil ($US/barrel)
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Brent Crude ($US/barrel)
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Crude Oil ($US/barrel)
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Oil Search (OSH) v Crude Oil Dec Futures ($US/barrel)
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Crude Oil December 2021 Futures ($US/barrel)
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Woodside Petroleum (WPL) V Crude Oil ($US/barrel)
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Crude Oil ($US/barrel)
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BetaShares Global Energy Companies ETF (FUEL)
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Woodside Petroleum (WPL) v Crude Oil ($US/barrel)
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BetaShares Global Energy Companies ETF (FUEL)
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BetaShares ASX200 Tech ETF (ATEC) ETF v BetaShares Global Energy Companies ETF (FUEL)
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Crude Oil December 2021 Futures ($US/barrel)
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BetaShares Global Energy Companies ETF (FUEL)
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Crude Oil ($US/barrel)
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Crude Oil ($US/barrel)
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Crude Oil ($US/barrel)
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Crude Oil ($US/barrel)
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Crude Oil ($US/barrel)
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Crude Oil ($US/barrel)
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Crude Oil ($US/barrel v Santos (STO)
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Crude Oil ($US/barrel)
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Brent Crude Oil ($US/barrel)
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BetaShares Global Energy Companies ETF (FUEL)
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BetaShares Global Energy Companies ETF (FUEL) ETF
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BetaShares Global Energy Companies ETF (FUEL) ETF
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Betashares Global Energy ETF (FUEL)
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BetaShares Global Energy Companies ETF – Currency Hedged (FUEL)
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