The exacerbating Russia-Ukraine warfare had sent oil prices beyond $100, a multi-year high at this point. This had further triggered sell down on stocks and oil stocks are practically the next safe haven for investors. Here are 5 stocks you should look at with the current oil price level.

HIBISCUS PETROLEUM BERHAD

A pure upstream player who acquired Repsol assets not too long ago. The RM48.49 million bottom line would serve as a very good guidance as to what their increased oil and gas production for the upcoming quarters, definitely a MUST HAVE for investors.

YINSON HOLDINGS BERHAD

An oil and gas powerhouse that is supported by funds. Despite being a local-founded FPSO player, they had secured mega sized-projects from world renowned upstream oil and gas player. Price is now depressed due to rights issue and lack of recognition from investors.

FAST ENERGY HOLDINGS BERHAD

A fasteners and precision turning converted oil and gas company. This company had secured multibillion contract size in supplying bunker oil services. Seeing how the MGO is trying to reduce sulphur content in oil, FAST is one and only oil bunker player that support VLFSO. The depressed price for now also represents an extremely good BUY opportunity for investors.

REACH ENERGY BERHAD

A substitute for HIBISCUS PETROLEUM BERHAD just in case you missed the rally. Commencement of oil field production to be followed soon and the company should turn black in the coming quarters with the high oil price. That being said, this is definitely a riskier investment than HIBISCUS PETROLEUM BERHAD.

ICON OFFSHORE BERHAD

Strong earnings capability ever since their share consolidation. A lack of confidence is the key reason why ICON OFFSHORE BERHAD remain at the low level despite better results. We also noticed this company due to its powerful cash generating results.

Most of our picks are inspired from key beneficiary and/or low valuation and under-the-radar companies. My personal favourite would be YINSON HOLDINGS BERHAD and FAST ENERGY HOLDINGS BERHAD.