FINSUM + Magnifi: Goldman Sachs Says These Stocks are Set to Boom

June 21, 2021

Stock and commodity prices have been all over the place of late. The last few months have mostly been choppy, so it is hard to draw any trends. However, certain asset classes are throwing off distinct signals, and Goldman Sachs has some calls it wants to share with you. Oil prices have been high lately, hitting two year peaks last week. WTI and Brent Crude were $72.12 and $74.19 last week. Summer is typically an inflection point for oil markets, but weather surprises and the demand boom could keep prices high. Goldman Sachs is bullish on many oil producers, but especially Canadian companies like Suncor Energy, Cenovus Energy, and Canadian Natural resources due to their upcoming cash flow. For U.S. producers Goldman likes Devon Energy, Diamondback Energy and Hess. The big oil companies are attractive such as ConocoPhillips and Occidental Petroleum. Goldman says refiners are not the best way to take advantage of the oil boom.

(New York)

FINSUM + Magnifi: The oil boom is alive and well, and as people are paralyzed by the Fed, commodities are the relief portfolios needed.

Other news today: Asia Booms on Differing Central Bank Moves and Nvidia Acquisition Proposal Extends Bullish Run
 


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