1139 GMT - Investors should avoid buying or selling oil equities based on speculation about the rapidly evolving Middle-East conflict, Morningstar's Allen Good writes. Oil prices could be volatile in the near term but there is ample supply to cover seasonally strong demand, Good writes. Assuming a long-term price assumption of $60 a barrel, Exxon is Morningstar's top pick, he writes. The stock trades at 15% discount to Morningstar's fair value estimate. It has growth potential from high-margin volume increases and cost reductions, he adds. BP remains undervalued and could pay down debt in a higher oil-price environment. However, prior strategic missteps remain a concern, Good writes. Shell and TotalEnergies are Morningstar's preferred European equities, he adds.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
June 23, 2025 07:39 ET (11:39 GMT)
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