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StockNews.com
StockNews.com
Business
Oleksandr Pylypenko

Imperial Petroleum vs. Indonesia Energy: Which Oil & Gas Stock is a Better Buy?

INDO Imperial Petroleum Indonesia Energy Indonesia

The price of oil has been skyrocketing over the past two weeks, hitting its 13-year high of $130. This is due to fears of a sizable supply crunch from Russia's invasion of Ukraine. In addition, it’s likely the U.S. will ban Russian oil and natural gas imports, which can push global gas and oil prices even higher. 

The high demand for energy stocks is evidenced by the Energy Select Sector SPDR ETF (XLE) 42% gains year-to-date (YTD) compared to S&P 500 Trust ETF’s (SPY) 12% loss over the same period.

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