Kevin Liu 5.0 2 ideas

Natural gas is being overlooked. LNG exports from the U.S. and Canada to Asia and Europe are strong and growing, and power generation demand from AI data centers remains robust. This thesis is intact, while oil producers have already rallied and have limited upside. Expect rotation from oil to natural gas.

Oil producers have already rallied sharply (S&P Energy Index up 28% YTD, some coverage companies up 40-50%). Upside is now limited from current levels, especially relative to natural gas.