Oil & Gas Sector Loses Its Energy
After a strong run throughout the summer, it’s been a rough two weeks for energy-related commodities and stocks. Today, an accelerating decline helped bring the sector back to the forefront of investors’ conversation. Let’s take a look at why. 👇
In very short-term fundamental news, gasoline inventories surprised to the upside today on weak demand. That caused the commodity to extend its recent selloff. But more importantly, we also saw heating oil and crude oil selloff in tandem after holding relatively strong during gasoline’s pullback.