"Energy has definitely been through a really tough time given sort of all the expansion in supply because of technological changes in the industry. However, you still have a little bit more to go, I think, in the downward trend in oil overall," Sanchez said during the same segment.
West Texas Intermediate crude oil has surged 26% this year, though it has pulled back 14% from an April high. "While I think that the value rotation will start to favor value stocks and some of these companies are oversold relative to the oil price, the actual oil price is probably still on a downward trajectory," said Sanchez.
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