The ongoing geopolitical tension in the Middle East has driven a surge in crude prices globally. This rise in oil prices is creating a favorable operating environment for upstream players such as ConocoPhillips COP, Diamondback Energy, Inc. FANG and EOG Resources, Inc. EOG, and investors are expected to keep a close watch on these stocks.

The crude prices of West Texas Intermediate (WTI) are trading close to $100 per barrel, according to oilprice.com. The U.S. Energy Information Administration, in its latest short-term energy outlook, predicts the WTI crude prices to be $73.61 per barrel in 2026, up from $65.40 in 2025, indicating that crude prices will remain elevated.

Upstream companies are well-positioned to capitalize…