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Energy stocks are on the move as frigid temperatures and snowstorms blanket North America.
Commodity markets across the board are moving higher as traders begin to look past the CCP virus pandemic towards a more robust global economy as vaccine rates skyrocket.
Freezing weather in regions across the U.S. sparked another rally in energy prices and put West Texas Intermediate crude on pace to settle above $60 a barrel for the first time since the early days of the coronavirus pandemic, reported CNBC.
Texans had to figure out how to stay warm with record cold temperatures and rolling blackouts due to power grid failures. Internet search trends in the Lone Star State for firewood exploded throughout Monday, wrote Zero Hedge.
Value investors have been left out of the massive equity melt up due to irresponsible fiscal and monetary policy enacted by Congress and the U.S. Federal Reserve. Tech stocks have been the place to be for gains in the face of the onslaught of spending and money printing.
That may be changing as neglected commodity plays gain favor on Wall Street.
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