for its coronavirus vaccine, which sent the price of oil — determined largely by demand for gasoline and jet fuel — soaring. In a report Tuesday, the bank said companies tethered to rising oil prices and fuel demand are likely to gain value, with a successful vaccine "a key catalyst" for jet-fuel demand in the second half of next year.
A dip in shale-oil production in the US, as well as a potential stimulus package under a Biden presidency, would also be good for oil prices, the bank added. The coronavirus pandemic has dealt a devastating blow to the fossil-fuel industry by causing demand for its products to collapse. Though oil stocks jumped Monday and Tuesday, the Dow Jones US oil and gas index is still down about 43% from the start of the year, while oil prices are down about a third.
"We believe clean energy stocks – in particular solar equities – are poised to continue to outperform as fundamental trends such as technology costs, demand growth and financing/cost of capital continue to show faster-than-expected signs of improvement and resilience, despite the ongoing impacts of the COVID pandemic," Brian Lee, an analyst at Goldman Sachs, wrote in the report.
Goldman Sachs bucketed its top energy stock picks into a handful of categories, which we simplified below.
90% of news about covid and trump
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the NCAA's rules for student-athletes monetizing their brand - Business InsiderNCAA student-athletes are months away from being able to profit off their brand. Here are all the ways businesses, agents, and advertisers can — and can't — work with them. thank you very much for your work
Source: BusinessInsider - 🏆 729. / 51 Read more »
What it's like inside a Venezuela hospital with no running water or medicine - Business InsiderWe went inside a public hospital in Venezuela where there's no running water and cancer patients have to provide their own medicine US Sanctions do that! StopTheCruelty
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the Amex virtual mentorship program helping low-income students - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Great initiative!!!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside high-end custom pianos with Steinway & Sons CEO, Lenny Kravitz - Business InsiderInside the highest end of high-end pianos, with classic brand Steinway & Sons and its newest collaborator, Lenny Kravitz wow
Source: BusinessInsider - 🏆 729. / 51 Read more »
Webinar: Inside private-equity recruiting at Carlyle, Apollo, Bain - Business InsiderJoin us on Thursday, December 3, at 1 p.m. ET, as Business Insider's Wall Street reporter reedalexander moderates a panel featuring four experienced recruiters from top private-equity firms. They'll share tips on how to make it in the industry and more.
Source: BusinessInsider - 🏆 729. / 51 Read more »