1 Top Oil Stock I'm Buying in June
Oil prices have bounced between $70 and $80 a barrel this year. However, crude appears poised to break out later this year. That makes now look like a great time to buy oil stocks.
While there are many top oil stocks, I've zeroed in on (NYSE: CVX) as the one I want to buy this month. Here's why I believe oil prices appear poised to rally and why Chevron is my oil stock of choice to profit from that thesis.
Changes in supply and demand drive oil prices. Last year, crude prices skyrocketed following Russia's invasion of Ukraine on supply issues. They've since cooled off on concerns that higher interest rates will slow the global economy, impacting demand.
Source Fool.com
Chevron Corp. Stock
€146.28
-1.990%
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 22.37% compared to the current price of 146.28 € for Chevron Corp..
