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