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As the conflict in the Middle East continues, crude oil prices (BZ=F, CL=F) have risen to near three-week highs. Entering the energy sector can be daunting as investors seek to balance their portfolios.
HSBC Oil and Gas Research Director Kim Fustier joins Yahoo Finance to discuss the current state of the energy market and what investors should be aware of when entering the energy sector.
Fastier selects BP (BP), Chevron (CVX), and Shell (SHEL) as his top three and explains how these companies are positioned for the ongoing transition away from fossil fuels. Masu.
“Despite continued pressure from ESG, [Environmental, Social, and Corporate Governance] Investors, especially European investors, are also aware of this, including major European companies such as BP and Shell. Companies therefore need to strike the right balance between being forward-thinking and investing in clean energy, while at the same time ensuring a viable business and continuing to invest in oil and gas. This is precisely why both BP and Shell are retreating towards oil and gas growth, at least in the medium term over the next two, three or four years, and at the same time exiting renewables, but not abandoning them. That’s why I watched it. It’s completely renewable energy…”
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by Nicholas Jacobino
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