SM - Ride the Crude Rally with These 3 Promising Energy Stocks | Benzinga
Oil prices have entered a bullish phase, recently reaching a two-month high, capturing significant investor attention. This upward trend indicates a strong and sustained interest in the energy sector, suggesting that energy companies are poised for substantial growth. With oil prices anticipated to remain stable throughout the year, the outlook for these companies appears highly promising.
High Oil Price
West Texas Intermediate ("WTI") crude price is trading at more than $80 per barrel, which is highly favorable for exploration and production activities. WTI crude recently touched $83.38 per barrel, the highest mark since Apr 26.
Also, in its short-term energy outlook, the U.S. Energy Information Administration ("EIA") projected the average spot price of West Texas Intermediate crude at $79.70 per barrel this year, still favorable for upstream operations.
Oil prices remain bullish due to the potential for solid summer fuel ...