The oil and commodities boom: 3 stocks to check out now

on Mar 13, 2022
  • Russia is one of the world-leading exporters of commodities.
  • Supply shocks triggered by the war in Ukraine will not ease soon.
  • Commodity prices will hit record levels in the near term.

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The war in Ukraine and the ensuing sanctions have led to massive shocks in the global oil and commodities market. Oil prices have surged in particular, hitting the highest levels in over 8 years. Commodities too like nickel, wheat, gold, and others are also surging.

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So, if you are thinking of taking advantage of this boom, here are some stocks that you can check out today.

Rio Tinto (RIO)

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Rio Tinto plc (LON:RIO) is an Australian mining giant that supplies much of Asia. The company is however based in London. It focuses on the production and sale of iron ore, copper, gold, diamond, and other rare earth metals.

Data Source: Tradingview 

Rio Tinto also operates in a lot of countries, including Australia, Africa, and some parts of Europe as well. As commodity prices boom, the company’s stocks are also likely to rise sharply.

BHP Group (BHP)

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BHP Group PLC (LON:BHP) is also another Australian mining company that specializes in iron ore. But in recent years, the company has diversified its activities. In addition to rare earth metals, the firm has also expanded into oil and gas as well. 

BHP is one of the oldest mining companies, having started operations in 1851. It has mining contracts in several countries, including Australia, South Africa, and some parts of Latin America too.

FPX Nickel (FPX)

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In the recent commodities boom, one commodity that has shattered records is FPX Nickel Corp (CVE:FPX). Russia is one of the biggest nickel producers in the world. The supply shocks seen as a result of the war have led to increased prices. Well, if you want exposure to this surge, consider buying into FPX Nickel (FPX). It is a Canadian company that specializes in the production of this commodity.

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