As the broader stock market continues to adjust to the conflict between Russia and Ukraine, energy stocks are in focus. By and large, this is likely due to global sanctions potentially weighing in on Russia’s oil exports. The likes of which make up a sizable 10% chunk of the world’s global oil output. All this would be alarming at a time when global energy supplies are already dwindling. Accordingly, global oil prices are now surging with Brent crude hitting peaks of around $113 a barrel. This would be its highest since June 2014. Moreover, U.S. West Texas Intermediate crude is holding around the $112 mark, a high last seen in August 2013.
Not to mention, investors also have the latest remarks for Federal Reserve chair Jerome Powell to consider as well. Namely, the Fed remains steadfast in its plans to raise interest rates later this month despite all of this. As a result, the focus on hot commodities such as oil could, in theory, also increase now. As such, it would not surprise me to see investors looking out for the best energy stocks to buy in the stock market today.
5 Top Energy Stocks To Watch For Your March 2022 Portfolio
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