gordonscottcmt

Oil and Energy Markets finding a Perfect Storm?

Long
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
It wasn't market makers who named the latest U.S. Hurricane "Delta," but they probably would have suggested the same name if anyone asked them. With the storm about to hit the gulf shores in the U.S. causing lockdowns in oil and gas facilities in the region, supplies of oil and natural gas are both constrained. This comes right at time when demand is increasing in the U.S. economy, and buyers are returning to the market. It could be a perfect storm for the Energy sector XLE in U.S. stocks, and for commodity currencies such as the Aussie AUDUSD , Loonie USDCAD , and Pound GBPUSD .

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