2 Top High-Yield Energy Stocks for the Second Half Of 2022
One of the headline topics of 2022 has been rising energy prices. The abridged version of the story is that years of underinvestment paired with a crippling downturn in 2020 reduced the overall supply of oil and gas heading into the economic growth rebound of 2021. The war in Ukraine and Europe's push away from reliance on Russian oil and gas further strained supply and inflated energy prices. However, in the last six weeks, West Texas Intermediate (WTI) crude oil prices went from well over $120 per barrel to below $95 per barrel. In the same period, the energy sector is down over 23% compared to an 8% decline in the S&P 500.
Chevron (NYSE: CVX) and ConocoPhillips (NYSE: COP) are two oil and gas stocks that have all sold off in recent weeks, but both look like great buys now. Here's why.
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Source Fool.com
