Oil: Top 3 energy stocks as sector transitions to renewables

As conflicts in the Middle East continue, oil prices (BZ=F, CL=F) near 3-week highs. As investors look to balance their portfolios, the energy sector may seem daunting to buy into.
HSBC Oil & Gas Research Director Kim Fustier joins Yahoo Finance to discuss the state of the energy market and what plays investors should look out for if buying into the energy sector.
Fustier chooses BP (BP), Chevron (CVX), and Shell (SHEL) as her top 3 picks, explaining how these companies are positioned for the ongoing transition away from fossil fuels:
"Despite continued pressure from ESG [Environmental, Social, and Corporate Governance] investors, particularly in Europe, the European majors including BP and Shell recognize that. So they have to strike the right balance really, between being forward leading, investing into clean energy but also making sure they've got viable businesses and continue to invest in oil and gas. That's exactly why you've seen both BP and Shell tilting back towards growth in oil and gas at least in the medium term for the next two, three, four years, and then at the same time pulling back from renewables, but not abandoning the renewables altogether..."
#youtube #stocks #stockmarket
About Yahoo Finance:

Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

Get the latest news and data at finance.yahoo.com

Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)

Follow Yahoo Finance on social:

X:   / yahoofinance  
Instagram: https://www.instagram.com/yahoofinanc...
TikTok: https://www.tiktok.com/@yahoofinance?...
Facebook:   / yahoofinance  
LinkedIn:   / yahoo-finance