RJN - Oil - If It Wasn't Obvious Before It Is Obvious Now

October, 20 2022 02:40 AM AB Svensk Ekportkredit ELEMENTS Linked to the Rogers International Commodity Index - Energy Total Return Structured Product

Summary

US oil demand is bottoming.
Couple that with the recent OPEC+ cut and the SPR announcement, and we have ourselves a nice floor for oil going forward.
Energy stock valuations, as a result, should gradually rerate higher as generalists underwrite E&Ps using $70/bbl WTI.
Macro worries will continue to keep a ceiling on crude ($125), but the fundamentals have now set a solid floor.
Once SPR ends, the global oil deficit that has taken place this year will become that much more obvious.

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Company Name:	AB Svensk Ekportkredit ELEMENTS Linked to the Rogers International Commodity Index - Energy Total Return Structured Product
Stock Symbol:	RJN
Market:	NYSE