Energy Equities Aren't Simply a Proxy for Oil Prices -- Market Talk
Dow Jones03-19 19:07
1107 GMT - Energy shares have jumped since the start of the Middle East conflict but still look undervalued relative to future fossil fuel demand, Citi's Alastair Syme writes. However, these stocks aren't simply a proxy for oil prices, he says. Energy equities outperformed falling oil prices by 30% in 2025, meaning oil prices aren't the universal drive of share performance, he says. Investors chose to ignore the importance of oil to the economy in 2021-22 during the transition toward green energy and they still don't fully recognize it now, he says. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
March 19, 2026 07:07 ET (11:07 GMT)
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