But I'm not looking across every corner of energy.
One group stands out above the rest: oil refiners.
Everyone talks about oil prices.
Very few people pay attention to the companies that actually turn crude oil into gasoline, diesel, and jet fuel.
That's where I think one of the most attractive opportunities in the sector is right now.
Take a look at the VanEck Oil Refiners ETF $CRAK:
The ETF broke out of a multi-year base late last year and has spent the past several months consolidating that move in a very constructive way.
Now price is starting to resolve higher once again.
As long as CRAK holds above 50, I think the path of least resistance remains higher.
And the fundamental backdrop is becoming just as compelling.
One of the best ways to measure a refiner's profitability is the 3-2-1 crack spread. Think of it as the margin refiners earn by buying crude oil and selling the fuels they produce.
Those margins continue pushing to new highs, pointing to a much more favorable earnings environment for the group.
That's the type of structural backdrop that can support refiners for much longer than most investors expect.
As long as this breakout remains intact, I think oil refiners continue to offer some of the most attractive opportunities anywhere in the energy sector.
My mate Grant is on the same page as I am. In fact, his system just triggered a bullish signal in one of the strongest oil refiners in the market, and he just shared the fresh trade idea with Apex Trader members.
