Mizuho Picks Winners Amid Middle East Oil Price Surge
Mizuho has identified its top picks in the U.S. Oil & Gas sector amid Middle East tensions, which have tightened the expected 2026 oil balance and pulled forward the firm's view of a recovery toward mid-cycle pricing by year-end.
The S&P 500 Energy sector index gained approximately 2.5% week-over-week, outperforming the broader S&P by 2.4%, with the sector outperforming the broader market by 29.2% year-to-date.
Mizuho's top pick in the sector is EQT Corporation (EQT), which benefits from the firm's constructive outlook on U.S. Oil & Gas and its position to capitalize on the tightening oil balance resulting from Middle East disruptions.
Devon Energy Corporation () ranks as Mizuho's second top pick among oil-levered exploration and production companies, favored for its exposure to improving oil fundamentals as Middle East tensions support higher price expectations.