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Oil pumps against sunset The S&P/TSX Capped Energy Index moved up 1.64% to close out the week on May 27. In late February, I’d looked at top energy stocks to scoop up as oil and gas prices remained strong. That momentum kicked into high gear after Russia’s invasion of Ukraine on February 24. Imperial Oil (TSX:IMO) (NYSE:IMO), a Calgary-based company that is engaged in exploration, production, and sale of crude oil and natural gas in Canada, has been a great pick in this climate. Today, I want to discuss how the stock has performed a month removed from its first-quarter earnings release. Let’s jump in. Energy stocks have bounced back nicely in the middle of spring Imperial Oil stock climbed 7.7% last week as of close on May 27. Its shares have increased 50% so far in 2022. Better yet, the stock is up 74% in the year-over-year period. Canadian energy stocks like Imperial Oil have been a fantastic hold since the beginning of 2021. The sector has benefited from a return to form for the global economy as well as key geopolitical pressures. Oil and gas prices surged as the European Union has pushed harder to place an […]
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