As tracked by the price of WTI, crude oil that serves as one of the main global oil benchmarks, crude oil has climbed from the recent $65 to less than $80 per barrel trading range. A few weeks ago, the WTI price rose above $80, and recent trading shows that level might become a new floor. Even a massive build in crude inventories did not push the price below $80.
Energy producers will be highly profitable with a price floor of $80 per barrel. The S&P energy sector was a top performer in the first quarter, and that was with oil trading in the $70s. Energy sector stocks of all stripes should do well in the second quarter.
Here’s a high-yield way to play this.
This post appeared at Dividend Stocks Research.