The price of oil has been extremely volatile as of late, hitting a 13-year high of $130 a week ago amid fears of a large supply deficit caused by Russia's invasion of Ukraine. In addition, President Biden has recently banned U.S. imports of Russian oil, liquefied natural gas, and coal, which pushed global gas and oil prices even higher.
As of today, U.S. oil prices gave back a significant portion of their gains and slid below $100 per barrel. With more volatility expected, companies engaged in Oil & Gas exploration and production activities, along with auxiliary industries, are in focus. Which is why today I am going to analyze and compare two Oil & Gas drilling stocks, Transocean Ltd. (RIG) and Helmerich & Payne, Inc. (HP), to determine which one looks best for investors' portfolios.
