7 Energy Stocks to Buy on the Dip
Energy stocks have finally cooled off. After a red-hot spring, the sector experienced a sharp decline in June as recession worries overtook bullish factors. As a proxy, consider the performance of the Energy Select Sector SPDR Fund (NYSEARCA: XLE ). That exchange-traded fund is bouncing around a three-month low, and is down 22.9% since June 8, while the broader SP 500 index is off 2.8%. Three-quarters of the way through, July hasn’t given energy bulls much to cheer about either. So is this the end of the line for the energy stock bull market? Hardly. Rather, it’s a much-needed correction after sentiment ran a little too frothy earlier this year. Yes, demand for key products such as crude oil and natural gas is now in danger of outstripping supply. Yes, the sector has faced chronic underinvestment since 2015. And yes, the invasion of Ukraine has thrown a wrench in Russian energy supplies for many years to come. 5 Electric Vehicle Stocks to Buy on the Dip The bullish factors for energy stocks haven’t disappeared.
7 Energy Stocks to Buy on the Dip
Energy stocks have finally cooled off. After a red-hot spring, the sector experienced a sharp decline in June as recession worries overtook bullish factors. As a proxy, consider the performance of the Energy Select Sector SPDR Fund (NYSEARCA: XLE ). That exchange-traded fund is bouncing around a three-month low, and is down 22.9% since June 8, while the broader SP 500 index is off 2.8%. Three-quarters of the way through, July hasn’t given energy bulls much to cheer about either. So is this the end of the line for the energy stock bull market? Hardly. Rather, it’s a much-needed correction after sentiment ran a little too frothy earlier this year. Yes, demand for key products such as crude oil and natural gas is now in danger of outstripping supply. Yes, the sector has faced chronic underinvestment since 2015. And yes, the invasion of Ukraine has thrown a wrench in Russian energy supplies for many years to come. 5 Electric Vehicle Stocks to Buy on the Dip The bullish factors for energy stocks haven’t disappeared.