AAPL - Soaring Oil Prices 2022: Who Are the Winners and Losers When Crude Climbs?
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Oil prices are soaring higher in 2022 and there’s going to be some definite winners and losers as the price of crude continues to rise.
So what’s behind the soaring oil prices in 2022? First off, the price of oil was already on the rise as inflation took its toll on the U.S. However, now we also have to factor in Russia’s invasion of Ukraine as another reason for oil prices increasing.
But What Do Rising Oil Prices Mean for Consumers?
Well, they’re definitely one of the biggest losers as oil prices climb. We’re already seeing gas prices increase and customers can expect to pay even more if something doesn’t change. Heck, some drivers are already paying well over $4 a gallon for gas depending on where they live.
How About Oil Companies?
This is a case where we have several major winners. With customers paying more at the pump, it’s no surprise that oil companies would come out of this on top. On that same note, investors in oil stocks are also likely smiling as the jumping crude prices have been pushing various stocks higher today and could continue to in the near future.
What Other Sectors Benefit from Increasing Oil Prices?
It’s not just oil companies that get a boost from increasing prices. Industrial companies also take off as their products are used by oil companies in drilling and managing wells. Financial companies also do well with more capital being borrowed by oil companies seeking to expand their business.
Who Else is Affected by the Oil Boom?
One more thing to consider is where all that oil is coming from. That’s right, oil-producing countries. These are set to take advantage of rising oil prices as they often export oil to other countries that don’t produce enough on their own.
Investors searching for more stock market news today are in luck!
InvestorPlace has all the latest stock market news that traders need to know about for Monday! Among that is what to expect from Apple’s (NASDAQ:AAPL) March evet, what traders have to say about Camber Energy (NYSEAMERICAN:CEI) stock, as well as analysts weighing in on Uber (NYSE:UBER). You can find all of that news at the following links!
More Monday Stock Market News
- Apple Event March 2022: 11 Things for AAPL Stock Investors to Expect Tomorrow
- CEI Stock: What Investors Are Saying About Camber Energy as Shares Soar Today
- Is UBER Stock a Buy on Ride-Hailing Recovery? 3 Analysts Weigh In on Uber.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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