“Old Energy” Still Has Legs After Oil’s $120 Price Surge

The oil price surge created a lucrative situation in the energy sector.

"Old Energy" Still Has Legs After Oil's $120 Price Surge Adam O'Dell, Chief Investment Strategist Well, how's that for a comeback? West Texas Intermediate crude oil is now trading for around $80 per barrel, touching levels not seen since 2014. Just a year and a half ago, you literally couldn’t give it away. Oil prices went to negative $37.63 in April 2020, as you might remember. We’ve gone from oil having a value of less than zero to having it trade at multi-year highs. (See chart below.) So, is energy back? P.S. We have multiple energy stock recommendations within the Green Zone Fortunes model portfolio. We are covering all the bases with stocks focused on the current demand for fossil fuels and stocks focused on our renewable energy future. Our top-performing “old energy” recommendation is up 54% since recommending it in March, and I think it has room to run 50% higher over the next year and a half. 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