Commodities

Lead-Lag Live: Oil Is the Mother Of All Bull Markets

Posted on by Andrew Packer

One sector of the market that has been booming this year has been the energy space. Prices have been creeping up since oil briefly went negative in futures trading in mid-2020.

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    • A combination of tight supply and recovering demand have led to a major rally. Russia’s invasion of Ukraine complicated matters, as international demand for Russian oil has dried up. That’s caused prices to trend even higher.

    With a bull market underway in the energy space, the question is, when will it end?

    It may not be anytime soon. That’s because the last energy boom led to the rise of fracking technology. That allowed companies to revisit previously-depleted oil wells for a few more years of modest production.

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    However, that technology has somewhat played out. And the last bear market in oil led to many of these companies facing financial challenges. That’s why lending to the space remains muted, even with oil hitting a high price again today.

    As a result, the past few years has led to an under-investment in the oil space. New exploration and development opportunities have failed to find major new properties to develop.

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    • This is setting up oil to remain in a bull market for some time to come. That’s true even if demand drops due to economic uncertainty or a recession in the months ahead.

    To listen to the full interview, click here.