Brent Crude surged past the $100 per barrel mark for the first time since 2014 on Thursday after news broke of Russia’s invasion of Ukraine. Given Russia’s role as one of the largest oil-producing nations and the second-largest natural gas producer, this attack might significantly impact energy markets.
According to analysts at Capital Economics, an already tight market and the armed conflict in Europe could lead to oil prices settling as high as $140 per barrel if energy flows are disrupted. Given this backdrop, the fundamentally strong oil and gas stocks Exxon Mobil Corporation (XOM) and Chevron Corporation (CVX) might be solid bets.
