The market is now anticipating that oil will reach $100 per barrel. The next question, though, is, will it go there? It’s been a heyday for oil bulls after Brent bottomed out at $70 earlier this year. The strength of the commodity is fueled by the continuous pressure on supply due to Russia and Saudi Arabia's export and production cuts. Furthermore, some analysts expect oil to trade in the triple digits before the year ends.
However, others still need to be convinced that it will hold that price due to its effect on inflation and the need to keep rates high. While this presents a dilemma for some, it also allows short-term traders to buy oil or use oil stocks as a proxy for their bullish sentiment on the commodity. Here are three oil stocks that are opening up to buying opportunities now.
