Here’s Why Gas Prices Are Heading Higher

Ian Culley
September 14, 2023

Energy stocks and commodities remain front and center.

Our equity plays are running toward our upside objectives. Natural gas is attracting a bid. And bulls are eyeing $100 crude.

With that as our backdrop, we reviewed the energy space on yesterday’s "What the FICC?" episode.

And it appears the next leg higher for crude and its crew has commenced…

Check out the triple-pane chart of crude oil, heating oil, and gasoline:

Gasoline stole the spotlight yesterday as the sole culprit for a higher-than-anticipated CPI print.

Yet crude and heating oil are exhibiting relative strength, eclipsing their summer highs – a feat gasoline futures have yet to accomplish.

It’s only a matter of time before gasoline joins the pack if the breakouts in crude and heating oil hold. If and when it does, we expect broadening participation among energy stocks. 

Oil services, refiners, explorers and producers, and midstream names will all benefit as commodity contracts rise.

During yesterday's show, we covered these industry groups and more, highlighting the differences between popular ETFs.

Be sure to check out the show and the slide deck below!

You need to keep these charts on your radar as energy is resuming its leadership role.

Stay tuned!

Thanks for reading.

Click here to watch the most recent "What the FICC?" episode:

And be sure to download the Energy Slidedeck.

Allstarcharts Team

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