Reported 3 months ago
President Trump's increasing chances of re-election in 2024 are driving up oil prices due to his favoritism towards traditional energy sources rather than focusing on environmental protection and energy efficiency. This support, coupled with tight supply and demand prospects in the oil market, is boosting energy stocks. However, experts believe the positive outlook for energy stocks is not solely due to Trump's re-election prospects, but also due to their low evaluation and strong profitability. Despite the sensitivity of the oil market to economic trends, there is optimism for the future of energy stocks based on their low valuation, strong profits, and healthy cash flows. Green energy industry is also expected to grow in the long term due to energy transition and technological innovation.
Source: YAHOO