The best energy stocks right now as two major conflicts keep oil prices elevated
CNBC discusses how Strait of Hormuz disruptions and other Middle East and Russia developments have kept crude and refined-product prices elevated. It cites Deutsche Bank criteria for oil shocks not yet meeting risk-off thresholds, and notes energy stocks’ earnings outlook. The piece also highlights analyst actions and targets for PBF Energy, Par Pacific, Delek, ExxonMobil, Chevron, ConocoPhillips, and Cameco (CCJ), plus AI power firms TeraWulf (WULF), Hut 8 (HUT), Cipher Digital (CIFR), and Clea
How this was made
The 30-second read
Why it matters
It argues oil is already affecting rates and could pressure risk assets, but claims the shock has not yet triggered the historical thresholds for broad selloffs. It then points to analyst targets and large contract announcements as company-level supports for certain stocks.
Market read
Traders get a thematic read-through from oil and refined-product pricing to specific energy and uranium and AI-power equities, plus a few concrete analyst/contract catalysts.
What to watch
Refining upside depends on sustained refined-product spreads; if storage releases or demand weakness (e.g., China) offset geopolitical supply risk, the stock momentum could reverse quickly.
Background
The piece is a CNBC newsletter-style market wrap linking Strait of Hormuz volatility and Russia refinery attacks to crude and refined-product pricing, then highlights selected energy and uranium and AI-power names.
Ticker impact
The article says PBF Energy is among six U.S. refining stocks hitting new highs as Ukraine drone strikes lift refined product prices like diesel.
Near-term upside bias if refined-product spreads stay elevated; otherwise momentum may fade.
The text ties PBF’s strength to product-price moves, but provides no new PBF-specific datapoint beyond being at new highs.
Par Pacific is cited as one of the six refining stocks powering to new highs amid higher refined oil product prices.
Potential continuation while diesel/refined spreads remain firm; risk if spreads mean-revert.
The article frames the catalyst at the product level, not a fresh Par Pacific event.
Delek is listed among the six U.S. refining stocks reaching new highs as refined product prices rise on Russia refinery attacks.
Tactical support while refined-product pricing holds; otherwise valuation/momentum risk.
No new DK-specific contract, guidance, or operational update is disclosed.
Cameco is discussed as Truist initiating coverage with a buy rating and a $129 target, citing improved contract pricing.
Short-term positive drift possible around initiation/target coverage; longer-term depends on uranium pricing and contracting.
The article provides a concrete, attributable analyst action (initiation, rating, and target) for CCJ.
TeraWulf is said to have signed a massive 20-year, $19 billion-plus deal with Anthropic, and Morgan Stanley reiterates a $72 target.
Bullish repricing risk remains if the market believes the contract resets earnings power; volatility likely.
The deal size and duration are specific, but the article does not provide incremental financial terms beyond the headline deal value.
Hut 8 is mentioned as having inked a 15-year, $9.8 billion deal, grouped with AI power providers benefiting from hyperscaler demand.
Supportive for sentiment if investors treat the deals as valuation resets; limited by lack of new Hut 8-specific update.
The article does not attribute a fresh Hut 8 action in this moment, only references prior deal information.
Cipher Digital is included in the AI power provider set, with a stated Morgan Stanley $48.50 target and a bullish view tied to long-term contracts.
Potential near-term positive bias from target coverage; follow-through depends on contract execution and power economics.
The article gives a specific target, but does not disclose a new CIFR contract in this excerpt.
CleanSpark is said to have landed a two-decade agreement with a big tech customer in Georgia as part of the AI power provider theme.
Upside bias if investors price in stable contracted cash flows; downside if demand or power costs disappoint.
The excerpt includes a specific contract duration and customer context, but lacks financial terms and timing details.
Market effects
Oil-price elevation is framed as supporting upstream and refining equities, while the article argues the shock has not met thresholds for broad risk-off.
U.S. rates and Fed hawkishness are highlighted as the transmission channel from oil to broader risk assets.
Iran shipping risk and Russia refinery damage are presented as the two main global supply-side drivers for crude and refined products.
Counterpoint
The article’s own Deutsche Bank framework suggests the current oil shock has not met criteria for a major risk-off move, so energy outperformance may be more sentiment-driven than macro-durable.
Key entities
- geopolitical_riskStrait of Hormuz
Shipping disruption risk is described as driving rapid crude price moves.
- macro_energy_stockpileU.S. SPR
Inventory drawdown is cited as a bullish crude factor.
- geopolitical_riskUkraine drone attacks on Russian refineries
Refinery damage is linked to higher refined products like diesel, supporting refining stocks.
- equity_researchTruist initiation on Cameco
Initiates CCJ with a buy rating and a $129 target, citing contract pricing.
- corporate_contractTeraWulf AI power deal with Anthropic
A 20-year, $19 billion-plus contract is cited as a major catalyst for WULF.
