This Energy Stock Tops My July Buy List
News of a peace deal in Iran is predictably weighing on oil prices, but the punishment endured by SLB may be too severe.
Overview
The U.S. and Iran are working toward a peace accord, and while that's good news in geopolitical terms, it's had the predictable impact of sending oil prices lower. Hopefully, those benefits will soon be passed along to local gas stations, providing some much-needed relief for drivers.
On the other side of the ledger, investors holding certain energy stocks amid the peace deal news are being reminded that oil equities can take away as quickly as they give. Perhaps even more so. Just look at oil services giant SLB (NYSE: SLB). Shares of the company formerly known as Schlumberger are sensitive to oil prices, but there occasions when that relationship diverges.
SLB stock is slumping, but the dip may be worth buying. Image source: Getty Images.
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Originally published at www.fool.com.