Oil and gas prices are surging — Here’s what that means for renewable energy stocks

Renewable energy stocks are outperforming as the rapid surge in oil and gas prices — prompted by Russia’s invasion of Ukraine — makes the case for alternative energy sources more compelling.

Oil shot above $100 per barrel for the first time in years the day Russia invaded Ukraine, and has climbed sharply higher since. On Thursday, Brent crude, the international oil benchmark, hit $119.84 per barrel, while the U.S. benchmark topped $116.