PSX - 3 Top Oil Stocks to Buy in June
This year has been one of the most volatile in the history of the oil market. After starting in the mid-$60s, the main U.S. oil price benchmark, WTI, plummeted into negative territory following the dual shockwaves of the COVID-19 outbreak and the collapse of Russia's market support agreement with OPEC. Oil has since bounced back quite a bit. It recently recovered into the mid-$30s after OPEC and Russia made amends in a big way, and governments started easing the economic restrictions to slow the spread of COVID-19.
Crude oil could have much further to go if demand continues bouncing back, which means oil stocks seem to have a lot of upside from here. Three that stand out are ConocoPhillips (NYSE: COP), Enbridge (NYSE: ENB), and Phillips 66 (NYSE: PSX). Here's why they top the list of the best ones to buy this month.
Image source: Getty Images.