Oil prices surged above $90 per barrel last week for the first time since October 2023. Brent crude surpassed $91 per barrel on Friday, rising 18% for the year. The recent upward movements over the past two weeks, following a month in a tight range, have been influenced partly by concerns about a possible escalation of conflict in the Middle East.
Given the industry tailwinds, it could be wise to invest in fundamentally sound energy stocks MPLX LP (MPLX), Repsol, S.A. (REPYY), and Martin Midstream Partners L.P. (MMLP) for future solid returns. These stocks are rated A (Strong Buy) in our POWR Ratings system.
