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These stocks are the biggest winners when oil prices surge

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These are some of the best-performing stocks when oil prices pop

Oil prices are on a tear to start the new quarter, and if history is any guide, some stocks are better positioned to benefit from rising prices. Oil surged as much as 8% on Monday after OPEC+ announced it was slashing output by 1.16 million barrels per day. Analysts warned that the move could push oil back above $100 per barrel, a level it hit last year for the first time since 2014 amid the war in Ukraine .

mountain Shares have fallen more than 38% this year Bank behemoths Morgan Stanley and Bank of America also made the cut, gaining a median of 12.1% and 15.5%, respectively. Even after a volatile March for the banking sector, Morgan Stanley shares are up 3.4% year to date. Bank of America shares have shed 13.1% on the year. Elevated oil price winners outside these sectors include travel stocks Alaska Air Group , Expedia and Booking Holdings . Deere and Mosaic also met the criteria.

 

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