Energy Stocks Are Still Undervalued Despite Massive Oil Price Rally

Just as the push toward $100/bbl oil seemed to be losing steam, reports on Friday that the United States believes Russia's Vladimir Putin could invade Ukraine "any day now"  have lifted crude to as high as $95/bbl for an eighth straight weekly advance. Brent crude (CO1:COM) for April delivery closed +3.3% at $94.44/bbl, the highest finish for a front-month contract since September 2014, while March WTI (Cl1:COM) crude settled +3.6% at $93.10/bbl, also the best level September 2014. "The oil market was waiting for a major catalyst to justify…