Conversely unlike Whitehaven the oil stocks are struggling to embrace the huge rally in the commodity post the pandemic e.g. oil is ~25% above its 2019 highs whereas heavyweight WPL is ~30% below its equivalent level. I’m starting to do a 360 here and feel like the sector is becoming a candidate to follow in the footsteps of WHC, hence we are watching for a catalyst to enter the sector.
MM is considering increasing our exposure to crude oil in the months ahead
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