When looking for stocks with the most momentum in the stock market today, oil & gas stocks would be among those on the top of the list.
For various reasons, there has been an increasing demand for oil and gas around the world. It first started with the easing of COVID-19 restrictions and the rapid rebound of the economy. Furthermore, there are also pandemic-related supply chain disruptions that have exacerbated the situation. And to top it off, Russia’s ongoing invasion of Ukraine has caused oil supply disruptions, leading to a sharp increase in oil prices.
To highlight the severity of the situation, even President Joe Biden has ordered a major release of oil from the country’s reserves. The recent attempt to bring down fuel costs is the largest effort since the reserve was created in 1974.
Do You Have These Oil & Gas Stocks On Your Watchlist?
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