Play the Rising Energy Sector With These Leveraged ETFs
Zacks Investment Research | Sep 27, 2021 12:10AM ET
Oil price has been on a tear with Brent hitting the highest level since October 2018 and heading toward $80 per barrel while WTI jumped to $75 per barrel — the highest since July. The rally has been driven by supply disruptions and storage drawdowns as well as growing demand with the easing of pandemic restrictions.
Inventories have declined sharply in the United States and abroad due to disruptions that could last for months. Oil drillers in the Gulf of Mexico are still struggling to restore output more than two weeks after Hurricane Ida made landfall on the coast of Louisiana, with almost a third of production still idled. Meanwhile, some members of the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, are struggling to raise the output following under-investment or delays in maintenance work due to COVID-19 (read: all the Leveraged Equity ETFs here ).
Still, for ETF investors who are bullish on the energy sector for the near term, either of the above products can be an interesting choice. Clearly, a near-term long could be intriguing for those with high-risk tolerance, and a belief that the trend is the friend in this corner of the investing world.
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