Brent Crude Edges Towards $90 as Inflation Concerns Mount

Oil prices have regained attention as Brent crude edges closer to $90 per barrel. The surge in oil prices is being driven by inflation concerns and ongoing supply risks, particularly due to tensions with Iran.

Despite the increasing price of oil, US Treasury yields are putting pressure on valuations. However, strong earnings have helped keep stocks near record highs.

Three large energy producers that are exposed to this mix of rising crude prices, rates, and profit expectations are Subsea 7 (OB:SUBC), Helmerich & Payne (HP), and RPC (RES).