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 think the entire energy complex is a buy,” Lee stated on “Fast Money.” “Structurally, the industry and also the energy companies are really seeing the best supply-demand alignment in more than 10 years.”
The power sector was hit exhausting by the pandemic, as demand for oil fell amid a pointy discount in journey. The rollout of Covid vaccines and optimism across the financial reopening has reignited demand, serving to push the worth of oil larger whereas lifting the shares of power corporations.