(C) Reuters. 3 Energy Stocks Sitting at Attractive Prices Right Now
Oil and gas prices have been quite strong with elevated demand and decreased supply. Therefore, energy stocks Energy Transfer (NYSE:ET), MOL Hungarian Oil and Gas (MGYOY), and SilverBow Resources (NYSE:SBOW) are well-positioned to capitalize on the industry tailwinds, while trading at attractive prices.There was a brief spell of profit-taking in oil on concerns about demand declining if the economy continued to weaken. However, the decline was short-lived, and prices soon rebounded.
Brent Crude gained 1.3% to rise for the sixth straight day to $80.58 per barrel today, driven by tight supply amid the growing demand. In addition, the U.S. West Texas Intermediate (WTI) crude futures rose 1.4% to $76.51 per barrel. Natural gas prices have also doubled this year and are expected to grow in the upcoming months to reach its 13-year high this winter.
Therefore, fundamentally sound energy stocks Energy Transfer LP (ET), MOL Hungarian Oil and Gas PLC (MGYOY), and SilverBow Resources, Inc. (SBOW), which are currently at attractive valuations, could be solid additions to your portfolio.
3 Energy Stocks Sitting at Attractive Prices Right Now
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