$100 Oil Is Back! Here's What Smart Investors Should Do Now

By Jason Hall and Tyler Crowe – Sep 25, 2023 at 9:42AM

NYSE: EPD

Enterprise Products Partners

Market Cap

$61B

Today's Change

(0.96%) $0.27

Current Price

$28.37

Price as of May 6, 2024, 4:00 p.m. ET

A few select contracts for oil futures are already over $100, and the major benchmarks are in the $90-$100 range.

While most oil benchmarks are still around $90 per barrel, some contracts are already above $100, and more could follow. In this video, Motley Fool contributors Jason Hall and Tyler Crowe break down what's happening, and explain what smart investors are doing right now, including taking a closer look at Pioneer Natural Resources (PXD), Chevron (CVX 1.28%), ExxonMobil (XOM 0.65%), Equinor (EQNR 2.08%), MLPX (MPLX 0.36%), and Enterprise Products Partners (EPD 0.96%).

*Stock prices used were from the afternoon of Sept. 20, 2023. The video was published on Sept. 25, 2023.

Jason Hall has positions in Enterprise Products Partners and Equinor Asa. Tyler Crowe has positions in Enterprise Products Partners, Equinor Asa, ExxonMobil, and Mplx. The Motley Fool recommends Chevron, Enterprise Products Partners, Equinor Asa, and Pioneer Natural Resources. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.