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 believe your complete power complicated is a purchase,” Lee stated on “Fast Money.” “Structurally, the business and likewise the power corporations are actually seeing one of the best supply-demand alignment in additional than 10 years.”
The power sector was hit laborious 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 greater whereas lifting the shares of power corporations.