MRO - 3 Top Oil Stocks to Buy in May
Oil prices have surged this year. West Texas Intermediate, the primary U.S. oil price benchmark, has risen to more than $100 a barrel, up over 35% since the start of the year. Crude oil had been even higher, topping out at over $130 a barrel at the peak. Even though oil has cooled off since hitting that high, it's well above what most oil companies expected this year.
That's clear from their hedging strategies. Because many oil stocks are locked into pricing much lower than the current level, they won't capture the full upside of higher oil prices this year, since those contracts cap some of their gains. However, three oil stocks with nearly limitless upside to higher oil prices are Marathon Oil (NYSE: MRO) , Continental Resources (NYSE: CLR) , and ConocoPhillips (NYSE: COP) . They look like the best oil stocks to buy this May for those who are bullish that crude prices will keep rising.
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3 Top Oil Stocks to Buy in May