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As oil prices rise, these global stocks are set to outperform: Bank of America

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Bank of America said that three global stocks were set to benefit from both rising gas and oil prices.

The ongoing conflict between Israel and Hamas has seen oil prices jump as investors consider the risk of wider geopolitical issues across the Middle East. These rising prices will benefit a number of stocks, according to Paulina Strzelinska, quant strategist at Bank of America. "With rising oil and natural gas prices we screen for the top 25 stocks that tend to outperform when these prices increase by at least one standard deviation above the one-year average," she wrote in an Oct.

Other companies that made the list include French energy giant TotalEnergies , British luxury car and aero-engine manufacturer Rolls-Royce and Dutch insurer Aegon . Outperformers when natural gas prices rise In a separate screen, Bank of America revealed its list of companies that tend to outperform when natural gas prices rise. Companies that showed up on the list include Portuguese energy player Galp Energia , Dutch professional software solutions provider Wolters Kluwer and the U.K.

 

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