Fundstrat’s Tom Lee says the ‘entire energy complex is a buy’ as economy roars back


Oil storage containers are seen, amid the coronavirus illness (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021.

Lucy Nicholson | Reuters

Fundstrat Global Advisors co-founder Tom Lee advised CNBC on Tuesday that he stays bullish on the energy sector as the U.S. economy recovers from the coronavirus pandemic.

“I feel the total energy complex is a purchase,” Lee stated on “Fast Money.” “Structurally, the trade and in addition the energy corporations are actually seeing the greatest supply-demand alignment in additional than 10 years.”

The energy sector was hit laborious by the pandemic, as demand for oil fell amid a sharp discount in journey. The rollout of Covid vaccines and optimism round the financial reopening has reignited demand, serving to push the value of oil larger whereas lifting the shares of energy corporations.

The Energy Select Sector SPDR Fund, which trades below the ticker XLE, is up almost 34% 12 months so far. The S&P 500, for comparability, is up greater than 10% to this point in 2021.

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