Oil prices (BZ=F, CL=F) dipped but remain near 3-week highs as demand rebounds, particularly in Asia, amid ongoing geopolitical tensions in the Middle East. Yahoo Finance’s Ines Ferré reports on what is driving oil prices. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Eyek Ntekim
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..." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
The national average price for regular-grade gasoline jumped back up above $3.20 a gallon after several months of declines.