How to trade this energy play attempting a turnaround as oil tops $80

📆 20/03/2024 04:50 م
📰 CNBC

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As oil prices climb above $80 for the first time since late last year, energy stocks are roaring back with strength across multiple timeframes.

As we review the energy sector, SLB stands out as a stock where value can be unlocked by the current environment. We'll review an options trade to play the name. Despite a record year in 2023, SLB traded lower this year on the back of geopolitical factors. The recent rise in oil prices is bringing investors back and, in my opinion, now is another opportunity to add SLB to your overall portfolio.

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U.S. crude rises above $80 as oil supply deficit forecast for 2024Crude oil futures rose on Thursday, adding to the previous session’s gains as the International Energy Agency now forecasts a supply deficit for 2024. The…
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