Published on 9 Apr 2024 on TipRanks via Yahoo Finance
On the surface, hydrocarbon energy giant ConocoPhillips (NYSE:COP) appears irrelevant. With political and ideological forces pushing for clean and sustainable solutions, fossil fuels just don’t cut it anymore. However, Russia’s military belligerence in Ukraine has no end in sight. As a result, simple math suggests that crude oil prices will move higher, which will benefit upstream specialists like ConocoPhillips. Subsequently, I have little choice but to be bullish on COP stock.
Math Points to a Northbound Direction for COP Stock
Let’s just start with the meat of the argument. Only Russian President Vladimir Putin knows when the war in Ukraine will end. Because he has provided practically zero signs that he is interested in a legitimate peace agreement, the conflict will continue. Almost certainly, this terrible dynamic translates to artificially reduced crude oil supplies, which will probably boost COP stock.