Over the past month we had repeatedly pointed out that at a time when oil and other energy commodities were soaring - and Brent last week surpassed the average price at which Biden drained the SPR so at least the US now has (almost) triple digit oil again but 200 million fewer emergency barrels of oil - energy stocks were rising but at a much slower pace (something which even JPMorgan highlighted on Friday in their wholesale upgrade of the energy sector). dramatic disconnect between oil and energy stocks pic.twitter.com/VelHdd21K9…
