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3 Energy Stocks to Buy as Oil Prices Surge By StockNews

by Mike Robinson

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© Reuters. There are 3 energy stocks you can buy as oil prices rise

Due to increased demand, oil prices are continuing to climb. This has led to higher energy stock shares. Investors should look into buying energy stocks that are rated Buy, such as Royal Dutch Shell PLC (RDS.A), TotalEnergiesSE ADR (TTE), which is not expected to end anytime soon. BP PLC Oil prices rose above $80 yesterday, and they show no signs of slowing. The price of a barrel rose 1.5%, closing at $83.65 Brent crude oil reached an intraday peak of $84.60 today. This is its highest level since October 2018. Oil prices are rising and so have the stocks of energy companies.

This can be attributed to the rapid pace of global economic recovery, and the inability of producers to keep up. Despite rising prices, OPEC+ (the Organization of the Petroleum Exporting Countries) and its allies have not increased their supply. Additionally, the market may be affected by a shortage of power supplies for businesses and households around the world.

Therefore, oil and gas demand isn’t likely to go away soon. Investors should add energy stocks to their portfolios. My screen included energy stocks that were either Strong Buy or Buy in the POWR Ratings database. The top three stocks in this screen were Royal Dutch Shell PLC, TotalEnergies SE ADR(TTE), and BP PLC ADR [BP], which I highlighted below.

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