WDS has held firm for more than a year in the face of a US president whose determined to get the price of oil and gas lower to offset inflationary impacts of stimulus measures. There’s no real complicated story per se with WDS, when we see higher oil & gas prices, it will rally, that’s the determining factor, but we think there are too many competing forces at play to see that happen at the moment.
- We can see WDS finding a decent low this year, but there are no buy triggers yet.
MM remains cautiously bullish towards WDS into 2026
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