Energy

Halliburton may benefit from best fracking market in years

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Energy’s rough patch may not last long.

The year’s top-performing sector — the worst performer in the past month — should maintain the No. 1 spot as investors realize the depth of the demand-supply imbalance in energy, BK Asset Management’s Boris Schlossberg told CNBC’s “Trading Nation” on Thursday.

Though concerns around the Covid-19 delta variant have kept a lid on gains, “once that goes away, you’re still going to have resurgent demand with very limited supply,” the firm’s managing director of FX strategy said.

His top pick in the space was oilfield service company Halliburton, which he was long via the $19-$22 call spread expiring in November. The stock began trading up nearly 2.5%…



Source cnbc.com

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