CNRG - The Q4 Oil Gas And Coal Rally: Resurgence Or Dead Cat Bounce?

• The Russell 2000 Index closed out 2020 with a roar, surging 31.4% in the fourth quarter and posting its highest ever monthly return in November.
• However, while Oil, Gas and Coal delivered 50.1% for the quarter, it was far from one of the highest contributors to the Russell 2000 Index return-a result of its relatively small weight in the index.
• There are significant headwinds underpinning the Oil, Gas and Coal sector's decline, most notably market participants' paradigm shift toward more sustainable investing.

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