Energy: Opportunities Remain Following Saudi-Related Oil Volatility
Oilfield-services stocks look particularly attractive, trading at levels we haven't seen in some time.
It was a comparably poor third quarter for energy stocks, with the sector falling 5% quarter to date as of Sept. 24. During that same period, oil prices fell by roughly 2%, continuing the recent trend of energy stocks underperforming oil prices. Historically, energy stocks and oil prices have moved in tandem.
Global Energy Index vs. Global Equity Index. - source: Morningstar
Jeffrey Stafford has a position in the following securities mentioned above: SLB. Find out about Morningstar’s editorial policies.