Three energy stocks look like bargains as the Iran conflict drags on

Group 1 - The military conflict involving the U.S. and Israel's attacks on Iran has led to a decline in certain oil-industry stocks, creating potential buying opportunities for long-term investors [1][6] - As of early Monday, West Texas Intermediate crude oil was trading at $103.27 per barrel, reflecting a 54% increase from a settlement price of $67.02 on February 27 [2] - The State Street Energy Select Sector SPDR ETF (XLE), which tracks the S&P 500 energy sector, was down slightly early on Monday but had risen 25.1% for 2026 through February 27 [3] Group 2 - The largest integrated oil companies in the S&P 500 are currently considered expensive based on forward price/earnings ratios compared to their five- and ten-year averages [4] - Oppenheimer Asset Management's chief investment strategist has a positive outlook for the stock market in 2026, suggesting that investors look for undervalued stocks during market downturns [5] - Three companies in the oil services and equipment sector of the S&P 500 are trading at low forward P/E ratios relative to their historical averages, indicating potential bargains [5]