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Oil Prices Are Spiking. 3 Top Oil Stocks to Buy to Cash in on Higher Crude Prices.
Oil prices took a plunge earlier this year. WTI, the primary U.S. oil price benchmark, fell from its peak at above $80 a barrel to a low point of around $60 a barrel due to concerns that President Donald Trump's tariff plan would slow the economy and sap oil demand. However, crude oil has since spiked back into the mid-$70s due to tariff pauses, trade deals, and concerns about supply disruptions due to resurgent conflicts in the Middle East and between Russia and Ukraine.Rising oil prices will enable oil companies to produce more cash, making the sector look like a more compelling investment opportunity these days. ConocoPhillips (NYSE: COP), Devon Energy (NYSE: DVN), and Chevron (NYSE: CVX) currently stand out to a few Fool.com contributing analysts as top oil stocks to buy amid the rise in crude prices.Image source: Getty Images.Continue reading
Oil prices took a plunge earlier this year. WTI, the primary U.S. oil price benchmark, fell from its peak at above $80 a barrel to a low point of around $60 a barrel due to concerns that President Donald Trump's tariff plan would slow the economy and sap oil demand. However, crude oil has since spiked back into the mid-$70s due to tariff pauses, trade deals, and concerns about supply disruptions due to resurgent conflicts in the Middle East and between Russia and Ukraine.
Rising oil prices will enable oil companies to produce more cash, making the sector look like a more compelling investment opportunity these days. ConocoPhillips (NYSE: COP), Devon Energy (NYSE: DVN), and Chevron (NYSE: CVX) currently stand out to a few Fool.com contributing analysts as top oil stocks to buy amid the rise in crude prices.
Image source: Getty Images.
