3 Oil Stocks To Watch As Brent Nears $100

Oil once again shares the front page with geopolitics, as fighting around Yemen and new security moves by Saudi Arabia, Turkey and Pakistan put the Bab el Mandeb chokepoint back under the spotlight. With Brent crude near $100 and supply risks in play, some energy exposed stocks could see earnings support, while others face higher risk premia. This article walks through 3 stocks from our screener that appear positively exposed to these shifting currents.

The three stocks below are a starting sample from this theme, while the full screen surfaced 9 more Global Integrated Oil & Gas and Upstream Energy Producers with equally compelling narratives that are not covered here. To identify and analyze your own highest conviction ideas in this space, head straight to the Global Integrated Oil & Gas and Upstream Energy Producers screener.

BW Energy (OB:BWE)

BW Energy plugs straight into the Global Integrated Oil & Gas and Upstream Energy Producers theme. It is a pure offshore explorer and producer whose cash flows are closely tied to Brent prices, with all its reported US$817.9 million revenue coming from crude oil sales and a market cap in the multi billion dollar NOK range.

Investors looking for direct exposure to upstream pricing power tend to watch how long producers can keep key fields running. This makes one recent move by BW Energy particularly important.

"BW Energy agreed a 25 year extension of the Dussafu Marin production licence offshore Gabon, shifting the expiry from 2028 to 2053 following an agreement with the Ministry of Oil and Gas of the Gabonese Republic."

The key issue now is how one unresolved pressure shapes future cash generation from those offshore barrels investors are paying for today.

That unresolved pressure point is exactly what the full narrative for BW Energy unpacks, showing where BW Energy’s extension could be masking risk or accelerating upside.

Greenfire Resources (GFR)

Greenfire Resources is a pure upstream oil sands producer in Alberta, closely linked to the screener’s focus on large energy groups whose fortunes move with crude prices. It generates about CA$581 million from oil sands operations in Canada and has a market cap around US$1.4b.

Greenfire Resources provides direct upstream exposure to oil sands, with all its CA$581 million in revenue tied to production from the Hangingstone assets in Alberta and a roughly US$1.4b equity value that still reflects a turnaround story. The interaction between benchmark prices and a balance sheet being reshaped by debt paydown and earlier equity raises remains a key consideration for investors.

That turning point on leverage and cash flow is exactly what the 2 key rewards and 1 important major warning sign surfaces, before balance sheet repair and pricing ever fully decouple.

Prio (BOVESPA:PRIO3)

Prio gives this screener direct exposure to higher crude prices, with a pure upstream profile built on offshore Brazilian fields and a sizeable R$51.2b market cap. The group generated about R$21.4b from oil and gas exploration and production, almost entirely from foreign buyers.

For investors using the Global Integrated Oil & Gas and Upstream Energy Producers theme as a way to ride elevated Brent prices, Prio is the pure play that ties portfolio returns closely to what happens on the production side rather than downstream refining.

"Ramp-up of production at the Wahoo field, supported by the recently obtained installation license and continuing progress on drilling/installation, will add significant new output in 2026 and 2027, increasing both revenues and operating leverage as production grows faster than fixed costs."

What happens when one less visible constraint quietly shifts will go a long way to deciding how much of that operating leverage actually reaches margins.

Once that constraint starts to ease, full narrative for Prio shows how Prio’s operating leverage could either accelerate or stall, depending on pricing, capex discipline and field performance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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