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

Advertisement Gaming: Visit today for your PlayStation, Xbox, Xbox bundles, Nintendo games.
Xbox  |  Xbox Bundles  |  Nintendo  |  Playstation  |  Cards
Manor Lords is a strategy game that allows you to experience the life of a medieval lord.
Horizon Forbidden West. Join Aloy as she braves a majestic but dangerous new frontier that holds mysterious new threats. This Complete Edition allows you to enjoy the critically acclaimed Horizon Forbidden West on PC...

Source: engel.ac / Shutterstock.

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/shutterstock.com

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

Source investorplace.com

FTC: We use income earning affiliate links. More on Sposored links.
Terms of use and third-party services. More here.

Ad Amazon Minecraft the game, plus clothing, toys, and accessories.

Ad Amazon Gaming Laptops, clothing, games and more

Ad Amazon MUSIC Artists Merch Shop

Stay connected throughout the year with official, ongoing Microsoft podcasts.
Microsoft Podcasts Apple | Microsoft podcasts YouTube


“Happiness is when what you think, what you say, and what you do are in harmony.” —Mahatma Gandhi

Related Posts