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Energy Stocks Remain Undervalued, Says World’s Best Performing Hedge Fund Manager | Josh Young
Forward Guidance
Russia's Invasion of Ukraine Changed the Game in Oil and Natural Gas
The expectation was when Russia invaded Ukraine that there were going to be significant sanctions on Russia across the board. When it turned out that Europe wasn't serious about that and the US, what we weren't serious about it, that allowed oil prices to fall back into more economic levels. I think recently Europe was consuming more Russian gas than they ever had or something along those lines. And then with high natural gas prices in Europe, you start to see industrial demand shift to the US. That's actually soaked up a lot of US inventories for gas that as part of why US gas prices are higher.
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