PSX - Oil Prices are Falling: 3 Stocks to Buy No Matter What Happens Next
Crude oil prices have fallen sharply from their early March highs, seeming to lose the momentum they've had since trading briefly for negative prices in spring 2020. And we're not likely to see the volatility end anytime soon as producers and consumers face long-term and short-term changes in the market.
In the short term, demand could rise as the economy recovers from the pandemic, but in the long term we're seeing transportation vehicles move toward electric technology that's replacing oil. If oil prices continue to decline, three of our contributors think General Motors (NYSE: GM) , Brookfield Renewable Partners (NYSE: BEP) , and Phillips 66 (NYSE: PSX) will still be better investments than most oil stocks .
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Oil Prices are Falling: 3 Stocks to Buy No Matter What Happens Next