Oil Stocks to Watch as Crude Prices Stay Elevated Amid Iran Tensions

Oil prices are back in focus due to Iran's harder stance on the Strait of Hormuz and nuclear talks, pushing crude futures near the mid to high US$80s. The geopolitical risk landscape is shifting, with investors concerned about being late to the story.

CVR Energy (CVI) is a U.S. refiner that converts crude oil and renewable feedstocks into various fuels, as well as nitrogen fertilizers like ammonia and UAN for agricultural and industrial customers. It operates refineries in Kansas and Oklahoma, and fertilizer plants in Kansas and Illinois, under the control of Icahn Enterprises.

CVR Energy generates around US$7.7 billion from petroleum sales, with smaller contributions from nitrogen fertilizer production and other segments. Analysts project strong earnings growth and a high return on equity (ROE), but also highlight concerns about debt financing, RFS and RIN compliance costs, and recent net losses.

Another stock to consider is Hess Midstream (HESM), which owns critical U.S. energy infrastructure for gathering, processing, storing, and transporting oil, gas, and produced water mainly in the Bakken shale. Its fee-based model provides stable cash flows, but also raises concerns about dependence on Bakken volumes and a single anchor customer.

Lastly, Cheniere Energy (LNG) is a leading U.S. LNG exporter that liquefies natural gas at its Sabine Pass and Corpus Christi terminals and ships it to global buyers under long-term contracts. The company's Gulf Coast terminals are outside the chokepoint, and recent quarters have seen multiple price target upgrades due to guidance for 2026 EBITDA being raised.