The 3 Most Undervalued Energy Stocks to Buy in May 2024 | Markets

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Oil prices continue to be volatile and hard to predict, which is why finding undervalued energy stocks can be hard, too. After rising steadily for most of March and April, crude prices just suffered their biggest weekly decline in three months as tensions in the Middle East ratchet down and global demand softens. Brent crude oil, the international standard, is currently trading at $83.78 per barrel, while West Texas Intermediate crude oil, the American benchmark, has fallen below $80 a barrel.

The current declines come amid deescalating tensions in the Middle East and on signs that the U.S. economy is slowing, putting downward pressure on oil demand forecasts. America remains the world’s biggest consumer of energy products such as oil and natural gas. At the same time, the economy in China, the world’s second-largest oil consumer, also continues to slump. All eyes are now on a meeting of OPEC+ oil producers that is scheduled for June 1.

The current situation is proving to be difficult on energy companies, particularly oil producers and refiners, pushing their share prices lower. Here are the three most undervalued energy stocks to buy in May 2024.

Marathon Petroleum Corp. (MPC)

Source: Jonathan Weiss/

Marathon Petroleum Corp. (NYSE:MPC) looks like a…


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