PSXP - 3 Top Oil Stocks to Buy in December
The price of oil has jumped around quite a bit this year. After plunging at the end of last year, the U.S. oil benchmark price, West Texas Intermediate, rallied above $65 a barrel at one point, before tumbling back into the mid-$50s.
While oil is still up sharply on the year, all that volatility has had a direct impact on the cash flows of oil producers. However, it hasn't had much effect on pipeline companies, since they get paid steady fees as volumes flow through their system no matter the price of crude. They are therefore a much lower-risk way to invest in the oil market. While several are compelling buys right now, Enbridge (NYSE: ENB), Enterprise Products Partners (NYSE: EPD), and Phillips 66 Partners (NYSE: PSXP) all have near-term catalysts. That makes them the best ones to buy this December.
Image source: Getty Images.