TTE - Energy roller coaster leads markets higher

Equity markets (SPY) swung wildly ahead of, and following, Wednesday's CPI release. Energy stocks, having collapsed earlier in the week, led markets higher in early trading Wednesday morning. Oil (NYSEARCA:USO), and gas (NYSEARCA:UNG) traded higher, while refining margins compressed, as gasoline and diesel prices failed to keep up with the rally in oil.  Morgan Stanley's Energy Strategist Martijn Rats published a bullish note titled, "the Case for Energy in 2022 continues." In the note, Mr. Rats lifted price targets for Shell (SHEL), BP (BP) and Total (TTE). As a European energy strategist and equity analyst, it was interesting to see Mr. Rats write "the trade-off between energy security and energy transition is changing. Noticeably, this is putting the energy sector in a new light." The note went on to flag that increased cash flows have been largely allocated to balance sheet repair and shareholder returns, rather than exploration and development:  In the

For further details see:

Energy roller coaster leads markets higher