Amid increasing demand and limited supply, the oil and gas industry is expected to show resilience with rising oil prices. Given this backdrop, the fundamentally robust energy stocks Marathon Petroleum Corporation (MPC), DNOW Inc. (DNOW), and Matrix Service Company (MTRX) could be wise portfolio additions now.
Oil prices recently rose, with Brent crude oil surging past $87 on Monday amid Russia’s retaliatory attacks on Ukraine’s energy installations, the Russian government's orders to curb oil output, and failed mediation in the Israel-Gaza conflicts. Additionally, analysts foresee tightening supply amid OPEC+ extended production cuts.
