Thoughtful Money with Adam Taggart · Sunday, July 26, 2026
David Hay expresses a strong bullish stance on the oil market, noting a significant rise in prices from $69 to $93 per barrel. He believes this trend has substantial legs and sees even more upside potential in energy equities, which he describes as "unbelievably cheap" and trading at 10 times earnings or less.
“So, as we know, oil's gone from, you know, 69 at the end of June to about 93 today. And that's a monster, monster move. And such people who believe that I've taken some profits on oil. You know, anybody that's following us, you know, like with USO, I don't disagree. Now, where I think there's still a lot more upside is with the energy equities.”
“So values very cheap. Within the value universe, the deep value is really cheap. Like unbelievably cheap. It's amazing to me how many companies out there, they're pretty good companies, they're trading at 10 times earnings or less.”