2024-04-18 06:33:00 ET
Oil prices are up sharply this year. Brent crude, the global oil price benchmark, has surged from $75 in early January to over $90 a barrel in recent days, a more than 15% rally. That has sent up most energy stocks, with the Energy Select SPDR ETF rising nearly as much as crude oil.
However, one notable laggard has been oil giant Chevron (NYSE: CVX) , which is only up around 5% this year. It has significantly underperformed other energy stocks, including rival ExxonMobil (NYSE: XOM) , which has rocketed nearly 20% this year.
That relative underperformance is why I recently bought more Chevron stock. Here's why I think it's one of the top oil stocks to buy these days.
For further details see:
Why I Just Bought More of This Top Oil Stock