Brent crude oil spot prices were $97 per barrel in February, up over $11 month over month. Brent spot prices were higher on a daily basis in the first week of March as a result of the Ukraine situation. The events in Ukraine put a strain on already depleted oil stocks. According to the administration’s short-term energy outlook, oil prices would likely average $116 per barrel in the second quarter of 2022. Prices are expected to drop all the way to $89 per barrel in 2023. Devon Energy Corporation and ConocoPhillips are two of the top oil stocks benefiting.
Insider Monkey highlights the 10 oil tanker stocks that pay dividends. Capital Product Partners L.P. is a Greek-based marine transportation company. Under short-term charters, the company transports a variety of cargoes and container goods. For the previous 14 years, the corporation has continuously paid a dividend to stockholders. Nordic American Tankers Limited is a tanker company headquartered in Bermuda. A fleet of 25 Suezmax crude oil tankers is operated by the company. It issued a quarterly dividend of $0.01 per share on March 3, in accordance with previous years. Costamare Inc. is a containership owner and charterer. The company has 76 containerships and 45 dry bulk vessels in its fleet. It issued a quarterly dividend of $0.115 per share on April 1st, in accordance with previous years. SFL Corporation Ltd. has a 17-year track record of paying out dividends. The stock has risen more than 20% in the last six months, owing to geopolitical tensions and rising energy prices, which have acted as double catalysts for the firm. International Seaways, Inc. owns and operates an oceangoing fleet of crude oil and petroleum product transport vessels. In recent weeks, rising tanker rates have helped to raise the company’s stock price. For more details, click 10 Oil Tanker Stocks That Pay Dividends.