These 3 Oil Stocks Are Cashing in as Crude Prices Top $100 a Barrel for the First Time in Years
Oil prices continue their ascent this year, recently topping $100 a barrel as Russia invaded Ukraine. They could push even higher if global governments place direct sanctions on Russia's oil industry. That would make an already tight oil market -- fueled by growing demand following the pandemic and years of underinvestment -- even tighter.
These higher oil prices are benefiting oil producers. Three oil stocks currently cashing in on triple-digit crude prices are Chevron (NYSE: CVX), Pioneer Natural Resources (NYSE: PXD), and Devon Energy (NYSE: DVN). Here's why they're ideal options for investors who want to play the return of triple-digit oil prices.
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Source Fool.com
