Energy stocks vs. Oil. Which one is right? pic.twitter.com/08DFVQUbxo
— Michael Kahn, CMT (@mnkahn) November 29, 2022
Today’s Chart of the Day was shared by Michael Kahn (@mnkahn). It’s a chart of the Energy sector (black) and Crude Oil (red) over the past two years. Energy stocks and Crude Oil tend to move together for obvious reasons, but they’ve been diverging since the Summer. Over the past three months, Energy Stocks are up more than 10%, while Crude Oil is down more than 15%. As Michael asks, which one is right?