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Why you'll book gains from S&P/ASX 200 oil stocks this week

US sanctions on Iran will likely keep oil prices elevated for the time being

Carin Pickworth
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US sanctions on Iran will likely keep oil prices elevated for the time being, which is good news for some S&P/ASX 200 oil stocks, with the WTI oil price up around 40% in the past 12 months.

According to CNBC, US President Donald Trump's decision to pull the US out of an international agreement to curb Iran's nuclear program is widely expected to severely hinder the world's fifth-largest oil producer.

S&P/ASX 200 stocks taking advantage of the uptick in oil prices include Beach Energy Ltd (ASX: BPT), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH).

Beach shares are up 0.5% to $2.05 at the time of writing after spending most of yesterday at the top of the S&P/ASX 200 gains list.

Santos is up 0.7% to $6.60, with Oil Search on the rise by 0.7% to $9.19.

Investors will happily book gains in the sector for the time being as crude oil prices settle higher.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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